Energy technology could save British industrial customers £540M a year
Research published by Centrica Business Solutions has identified the opportunity for the UK industrial sector to achieve £540m of savings on annual energy spend.
Energy is one of the largest operational costs borne by UK industrial businesses. Using energy more effectively will not only improve the bottom line, but also boost productivity, resilience and competitiveness.
The sector currently uses one quarter of all electricity used in the UK, but our research findings suggest that savings could be made by adopting distributed energy technology such as new heating and lighting, solar, combined heat and power (CHP) units and battery storage. New energy insights technology can also help to identify inefficient machinery and processes.
Our report reviewed the economic impact if just 50 per cent of businesses in the industrial sector adopted distributed energy solutions. Our findings suggest that businesses could reduce energy costs by £540 million a year, or 5 per cent of the sector’s total annual energy spend of around £12bn. The 50 per cent scenario could also create £13.9 billion for UK GVA (Gross Value Added)