Confidence in UK's Energy Efficiency Market at Record High

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A new report suggests UK businesses are starting to sit up and take notice of the cost savings that can be gained through adopting energy efficiency measures.

The latest Energy Efficiency Trends Report, by analyst EEVS Insight, supported by the UK Green Investment Bank and Bloomberg New Energy Finance, reveals that confidence in the £10-£15 billion non-domestic energy efficiency market is at an all-time high.

Business Green reports that the study, which included 26 energy efficiency and 62 consumer organisations, shows that roughly half of the suppliers have increased their employee headcount in the last quarter.

News that national orders, too, had grown will also be warmly received, especially given the concerning findings in the first quarter, which saw demand struggle as a result of uncertainty surrounding government policy.

The data also revealed that offices were the most likely to commission energy efficiency upgrades – such as energy monitoring systems – followed by public buildings, then schools and universities.

Bill Rogers, head of strategy at the UK Green Investment Bank, said the report confirms that organisations are recognising the productivity benefits that can be gained through green energy efficiency.

"Greater energy efficiency is the key to a greener, more productive, competitive and secure UK economy," he added.

Ian Jeffries, head of information services at EEVS Insight, echoed Rogers' comments and said the survey showed businesses and other organisations were "very much alive" to how they can profit from implementing energy saving technologies.

"Ostensibly a 'spend to save' investment proposition, energy efficiency is a great way to cut operational costs and boost productivity," he said.

The research follows a recent report from the International Energy Agency which estimates that the global energy efficiency market is now worth £310 billion annually, with further growth expected.

Find the study here.

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