Inenco urges businesses to take long term approach to energy reduction
3 November 2015, News release from Inenco Group Ltd
Inenco, one of the UK's largest energy consultancies, is urging businesses to start planning now for long term energy reduction.
In a survey of some of the UK's largest businesses about their attitudes to energy reduction, 83% cited cost reduction as the biggest driver for their business' energy strategy, but only 41% expected to act on their Energy Savings Opportunity Scheme (ESOS) audit, a report which will set out energy saving recommendations across a business' operations.
10,000 of the UK's largest businesses must comply with ESOS by completing an energy audit of their operations before December 2015, yet there is no legislative requirement on businesses to act on any of the energy saving recommendations that the audit will unearth. Inenco is urging businesses to use ESOS as an opportunity to plan for the medium to long term by creating a strategy that reduces energy cost.
One third of businesses acknowledged that funding is a barrier to investing in energy reduction, with a further 25% citing time and impact as a factor preventing them in progressing with reduction projects. Almost 20% were also concerned about return on investment.
Inenco has launched an end-to-end turn-key solution to support businesses implementing energy reduction projects, with guaranteed savings of at least 15% to remove the risk associated with self-investment. 'Spectrum' will support businesses through the planning, funding and implementation of energy reduction projects, utilising both the engineering expertise of Inenco's consulting arm, NIFES and recognised technology solutions.
Spectrum aims to remove barriers to implementation by removing risk, time and upfront investment. David Cockshott, Chief Commercial Officer at Inenco, said:
"Many businesses have already picked the 'low hanging fruit' of low cost or no cost measures, but investment in energy reduction projects can make a big impact on future energy costs. Under ESOS, identifying energy saving opportunities is moving from optional to mandatory, and businesses should take advantage of this as the catalyst to plan for long term reduction. Just a 1% saving can equate to hundreds of thousands of pounds, meaning businesses need to focus on a strategy for reduction.
"Spectrum guarantees energy savings with no upfront investment, making a compelling case for businesses looking to install measures or act on their ESOS recommendations. Businesses have told us cost reduction is a priority, and through Spectrum we can help to remove the multiple barriers standing in the way of implementation by supporting businesses throughout the energy reduction process with a natural flow into the installation and measurement of projects."
• Spectrum has been created by Inenco to support businesses with the end-to-end delivery of energy reduction projects. Under Spectrum, Inenco will support businesses to build upon ESOS audit recommendations or other portfolio analysis that identifies opportunities and help them to select the right technology; secure funding; manage project implementation; and track the return on investment.
• With guaranteed return on investment and full project management, the time investment required to implement energy saving measures is removed
• Under Supplier Services Agreements, businesses can repay capital outlays through the cost savings achieved, meaning projects require no upfront capital expenditure.
• For more information, visit www.inenco.com/spectrum/
For further information please email Inenco Group Ltd