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Businesses ‘missing out’ on energy cost savings

Almost all businesses in the UK are unaware of an incentive scheme to help improve energy efficiency, according to new industry research.

The survey involving 1,300 businesses across offices, retail and leisure, conducted by Daikin UK, revealed that 92 per cent companies are currently unaware of the Government’s Enhanced Capital Allowance (ECA) scheme set up to aid investment in modern energy efficient technology.

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Daikin warns that this lack of awareness may be slowing the adoption rate by businesses in new technology that would help bring both significant energy efficiency savings and also lower operational costs.

“In the face of rising energy costs and the need to reduce carbon emissions, businesses are being forced to become more energy efficient,” said Mark Dyer, marketing manager for Daikin UK. “Yet it seems we could clearly be doing more to encourage investment in new energy saving technology by raising awareness of the ECA. It was certainly staggering to see that such a large percentage of businesses are still not aware of the financial support that is available through the ECA scheme.”

Daikin’s survey also revealed that modern heating and cooling technology is one important area where businesses could be failing to improve efficiency. Heating and cooling costs typically account for 30 per cent of a building’s running costs, making this a prime area to achieve energy and cost savings.

Sixty nine percent of those surveyed thought their company could be doing more to save energy and reduce costs, with 61 per cent saying that investing in new heating and cooling technology could improve energy efficiency. However, 61 per cent of respondents stated cost as barrier for investment in new technology, further underlining the importance of the accelerated tax relief available through the ECA.

 

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