Manufacturers believe an energy strategy can help them focus on innovation
How the right approach to energy can help drive sustainable growth
To achieve sustainable growth while remaining responsive to customers, competitors and external demands, UK industrial manufacturers must improve their environmental performance at the same time as focusing on innovation and growth.
A global PwC survey found that 92% of industrial manufacturing executives believe innovation is important to future revenue growth1, while a Centrica Business Solutions survey revealed that 54% of manufacturing respondents believe that having coherent energy strategies can help their business focus on innovation2.
At the same time as focusing on innovation, growing consumer demand for greener products throughout the supply chain, is creating pressure for you to invest in sustainability. Given the industry’s large carbon footprint, this pressure is added to by new regulatory compliance challenges.
All of which makes your approach to energy of critical importance. With new energy technologies offering significant opportunities to enhance your sustainability credentials, while also helping power your innovation and growth, adopting the right energy strategy is imperative.
So, what does a robust energy strategy look like?
Moving forward with new technologies and approaches
With 56% of respondents in a Centrica Business Solutions survey saying that having a coherent energy strategy provides an opportunity for achieving a sustainable business model2,a progressive energy strategy is no longer a nice to have. New energy technologies and approaches offer many opportunities for you to improve the flexibility and scalability of your energy supply, whilst also reducing carbon footprint to satisfy regulatory demands.
These include renewable generation technologies, such as solar, as well as on-site generation technologies, such as combined heat and power (CHP) – which can cut a site’s energy use by up to 25%3, reduce carbon emissions and ensure a more scalable supply of energy to support the adoption of new production technologies.
Energy insight solutions also help drive reduced carbon usage, as well as delivering the insights into real-time, device-level data on energy usage within production processes that can unlock opportunities for innovation.
You should also take advantage of environmental reporting solutions that enable you to fully reap the benefits of adopting new energy technologies. Addressing financial constraints, flexible funding and contractual models provide the opportunity to reduce your reliance on capex, to free up resources to invest in growth innovations and new business models.
Download our Perspective Series article to find out more about how a scalable, sustainable and compliant energy strategy can help drive your growth. We highlight the priorities you should focus on to build a stronger future with energy, and reveal how we helped one manufacturer reduce their site’s CO2 emissions by 30%.
1Rethinking innovation in industrial manufacturing, PWC report, 2013
2Energy Advantage Research, Centrica Business Solutions. Statistics based on a six country survey of more than 1,000 energy decision makers in large organisations
3Centrica Business Solutions: https://www.centricabusinesssolutions.com/energy-solutions/products/combined-heat-and-power