According to a recent survey by British Gas, 32 percent of medium-sized businesses have no intention of implementing energy saving measures, while 70 percent of them are not using any at the moment. However, according to another report by the Institution of Mechanical Engineers, 60 percent of manufacturers say rising power bills are their biggest fear.
So, organisations are fearful of rising energy prices but are taking no action to rectify rising costs. This is staggering considering energy bills typically account for one fifth of a business’s running costs.
Energy reduction needs be part of every business’s strategy, regardless of size or sector. With energy costs predicted to rise even further, doing nothing is not an option.
Nor is there any excuse not to act. There is a wide range of initiatives and financial help available to help businesses keen to cut their energy bills. All organisations can apply for Enhanced Capital Allowances, for example, which provide tax incentives to encourage investment in energy saving technologies. Any that are willing to undertake an energy reduction strategy can also benefit from leases, loans and other financing options available through the Carbon Trust.
Equipment suppliers may also be able to provide help and advice. ABB, for example, conducts free energy appraisals that look specifically at motor-driven applications. After implementing the advice given in an ABB energy appraisal, it is not uncommon for a business to reduce energy spend on motor driven applications by 50 percent.
Take Trelleborg Sealing Solutions for example. After an ABB energy appraisal it was found that variable-speed drives could significantly reduce the aerospace manufacturer’s energy costs. The company is now saving £12,000 annually on energy costs and this is by no means a one-off example.
In today’s global market, UK companies need to be able to compete on the best possible terms in order to maximise both profitability and productivity. The technology and the help they need to start them off on the road to potentially massive energy cost savings is out there – they just need to make the effort to find them. To quote the old proverb – ‘the journey of a thousand miles starts with a single step.’
If your company has yet to start its journey to a more energy efficient future, then now is the time to swallow your fears and take your first steps to discovering how much your company could save by investing in energy saving technology.