With utility bills continuing to rise, enhancing energy efficiency can have a significant impact on a company’s bottom line, reports the Carbon Trust Advisory’s Hugh Jones.
Research by Carbon Trust Advisory has shown that UK businesses could achieve cost savings of at least £3bn per annum and up to £1.6bn per annum for large businesses.
A lack of funds is not the key barrier for most businesses.
With many energy efficiency projects delivering quick returns (generally less than three years), the barriers to adoption are often non-financial issues. Key barriers include low overall financial materiality of energy costs, lack of motivation and internal technical expertise, limited time, misaligned incentives (such as a tenant making changes that will only benefit a landlord), and concerns over business disruption.