08000123456

Improving energy efficiency 'central to business challenges'

Improving energy efficiency 'central to business challenges'

Improving energy efficiency 'central to business challenges'

Confidence has been growing in the UK's non-domestic energy efficiency market, according to a new report created by the UK Green Investment Bank (GIB).

It reported that confidence in the market, which is valued at being between £10 billion and £15 billion, is at an all-time high.

This is a very positive development, as head of energy smart technologies at Bloomberg New Energy Finance Tom Rowlands-Rees said: "Improving energy efficiency is central to a number of current challenges."

Companies can make a start on this kind of action by managing their energy consumption more proactively. One way of doing this is by switching to environmentally-friendly professional cleaning services. Only biodegradable and carbon free products are used to clean premises by Aurora, so this will undoubtedly have a positive impact on business energy efficiency.

Bill Rogers, head of strategy at GIB, said: "Although a relatively new market in the UK, non-domestic energy efficiency is fast growing and is forecast to require up to £15 billion of investment between now and 2020."

These findings have been published in the most recent Energy Efficiency Trends Report, which is formed on the basis of a survey of the country's leading non-domestic energy efficiency suppliers and its consumers. Those surveyed include organisations who supply energy efficiency technologies and services to non-domestic clients, alongside consumer organisations in the public and private sectors who buy these services.

The confidence index, which has depicted a growth, is based upon five key indicators in total, including: sales prices, staff numbers, order books, industry risk and effectiveness of government energy efficiency policy. Through this, the suppliers of energy efficiency technologies and services did state that they had their highest level of confidence within the industry since 2012.

Mr Rogers highlighted the significance of these findings with regards to eco-friendly values: "Greater energy efficiency is the key to a greener, more productive, competitive and secure UK economy."

What's more, of the suppliers who were surveyed, just under half confirmed that they had seen a rise in their number of employees based in the UK within the last quarter, which is particularly encouraging news. This may be in part due to the fact that within the same quarter, public and private sector organisations highlighted an increase in the demand for energy efficiency technologies, thus creating more jobs.

Ian Jeffries, head of information services at EEVS Insight, highlighted this: "At a time when the UK's economic recovery is predicted to gather pace, it is pleasing to report that energy efficiency is making its own sustained contribution."

While there are new projects appearing within the sector throughout a wide range of properties, the majority of these are concentrated on public buildings, schools, offices and universities. Of these new projects, the demand is mainly driven in the areas of motors and drives, HVAC, energy efficiency lighting and controls, boiler optimisation and refrigeration.

With this growth in confidence, there has also been an increase in cost with the average cost reaching an all time high, at £167,000 per project. In-housing funding has continued to be the dominant area in which new projects could be created, however, it is on sustained downward trend in favour of combined in-house and third party finance.

Speaking of the encouraging report, Mr Rogers said: "Confidence is critical to a new market which is why the report's findings, showing optimistic suppliers and consumers, are such good news."

 

Posted by Julie Tucker

Image courtesy of Thinkstock/Hemera