Energy experts believe the measures they implemented to make the reductions possible could eventually help households across the UK save £200 on their energy bills.
The money will be spent on making a community building of their choice more energy efficient.
Matthew Lockwood, from the Institute for Public Policy Research (IPPR), which analysed the results of the British Gas Green Streets competition, said: "The UK has steep carbon reduction targets of 80 per cent on 1990 levels by 2050."
"We will need creative approaches to keep carbon reduction front of mind during a recession," he added.
Each street involved in the competition was given a £30,000 budget to spend on energy efficiency measures.
In related news, ScottishPower has announced it will be cutting the cost of its gas and electric on March 31st.
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