Local Councils Want Victorian Lights to Go Green

Councils in Victoria want to spend $120 million to make Victorian street lights more energy efficient.
A campaign is currently underway called “Give Our Streets the Green Light” and if it is successful then Victoria could be saving up to 78,000 tonnes of greenhouse gas emissions a year and even cut council power bills by $7 million a year.
The new lights would use 70 per cent less electricity but unfortunately it would cost about $350-$450 to replace each light.
I can see that it would be great to save this amount of electricity and money each year but $120 million is a huge investment to make for an issue that isn’t exactly a pressing matter.
What do you think? Should the government and local councils spend $120 million to give us ‘green’ lights?