What’s Stopping YOU From Becoming More Energy Efficient?
Reports show that only 13 percent of businesses have seen a reduction in their business energy costs in the past few years, despite wholesale prices significantly decreasing. In fact, a whopping 35 percent of UK companies have seen their business energy prices increase, while 37 percent have seen no movement whatsoever, according to the British Chambers of Commerce. So what’s the issue?
One of the primary concerns is that business energy suppliers are, of course, not amending their prices to reflect changes in wholesale costs; they’re not passing their savings along to their customers. This is restricting how much a business can benefit from price reductions, and means that companies are needing to look into greater energy saving techniques in order to minimise their regular outgoings. Taking measures to become more energy efficient is a great way to save, but unfortunately we’re just not seeing this happening on a large enough scale. What’s stopping YOU from becoming energy efficient?
23 percent of larger firms claim that the funds required to become more energy efficient and reduce business energy costs are tied in up areas that take greater priority. This not only highlights the need for more business energy deals, but also the need for government-backed low cost financing options.
27 percent of businesses who rent their offices claim that they have little – if any – flexibility or input when it comes to business energy. This highlights the need for businesses to be aware of the most cost effective ways to purchase their own premises, and for landlords to fully understand tenant preferences.
- Lack of Assistance
Recently, there has been a very dedicated focus upon the installation of smart meters to help reduce business energy costs. However, only 6 percent of companies believe this is the best use of government funds. Instead, 36 percent would prefer to see the introduction of new grants to help with costs.
The British Chambers of Commerce agree, stating that ‘grants and tax breaks have an important role to play in offsetting the cost of new energy efficiency measures’, and that ‘commercial landlords also need to do more, to support leaseholders and renters who are looking to save money and make their energy use work for them’. While there are undoubtedly barriers standing in the way of many businesses becoming more energy efficient, taking even small measures to ‘go green’ can have a significant effect on outgoings, helping to reduce business energy costs and freeing up financial resources for further growth.