80% of businesses believe a quarter of energy needs will be generated onsite by 2025
Iselin, NJ (August 15, 2018) – Research identifies opportunity for businesses to unlock competitive advantage through their energy strategy
Most businesses will take control of their own energy use by generating a quarter of their electricity onsite by 2025, with 81% of U.S. businesses predicting this change will take place in just seven years.
In a study of over 1,000 businesses, Centrica Business Solutions has been working to identify the key drivers and barriers to adopting new energy approaches including battery storage, on-site generation and demand response.
Around a quarter of businesses have already invested in on-site generation in the form of solar and/or combined heat and power (CHP) with a third1 considering investing in these technologies. The increase in demand for flexibility that rewards businesses for increasing, decreasing or shifting their energy use has been identified as an opportunity by 44% of businesses planning to feed energy into the grid in the future.
The study of businesses from the U.S., Canada, Germany, Italy, the UK and Ireland identified that ‘energy leaders’, defined as those businesses that have adopted strategies to use energy efficiently and effectively, were more than twice as likely to unlock competitive advantage from their energy management. These businesses also reported strong financial performance, being a leading brand in their market, and attracting and retaining the best talent.
The survey also revealed however, that while 35% of U.S. businesses consider themselves to have a formalized energy strategy in place, far fewer have specific targets or budgets in place to support their ambitions. For example, despite two-thirds of respondents citing having back-up in the event of a power outage as very important, just 20% have specific targets in place to address this. In a similar vein, only one in ten businesses have set targets to support the link between sustainable energy use and brand image despite being identified by over half as very important.
“It’s necessary for businesses to take control of their energy use and have an actionable energy strategy in place whether that includes goals for resilience measures, emissions targets, or increased onsite generation,” said Stephen Prince, Head of Centrica Business Solutions North America. “Centrica Business Solutions has experience in helping U.S. businesses develop comprehensive energy plans with clearly defined actions, targets and budgets against them. We are passionate about helping large energy users achieve that ambitious 2025 prediction of at least a quarter of energy being generated onsite.”
The research is described in the Energy Advantage Report.
About the Report
Statistics referenced in this release are taken from a survey of more than 1,000 respondents from six countries (US, Canada, UK, Ireland, Germany, Italy), operating in six sectors (Healthcare, Education, Property/Real Estate, Manufacturing, Retail). All organizations had more than 100 employees and qualifying respondents came from organizations using, trialling or considering advanced energy solutions and had management and/or financial responsibility for energy decisions.
If you are a journalist and would like to get in touch with our media team, please contact media_NA@centrica.com.
132% considering or planning to invest in solar in the next two years, 30% considering or planning to invest in combined heat and power (CHP) in the next two years