Firms with their own “energy strategy” are more than twice as likely to be ahead in the market and outperforming competitors, according to new research from Centrica Business Solutions.
Headline findings from the survey of more than 1,000 companies reveal how one in three are now looking towards energy to support their business growth, deepen efficiencies and reduce risk.
However half of those polled were said to still be missing out on potential savings by failing to adopt basic energy efficiency solutions such as low energy lighting, heating and ventilation optimisation, and improvements to building fabrics to cut heat loss.
The report revealed that the 52 per cent who had invested in “advanced energy solutions” were at a competitive advantage, 35 per cent reported greater control and visibility, 24 per cent said company reputation improved and 23 per cent noted additional revenue.
Tim Wynn-Jones, UK head of distributed energy solutions sales at Centrica Business Solutions, said businesses were increasingly moving away from a commoditised attitude to energy and looking at how investing in it delivers benefits beyond cost savings alone. “They know their relationship with energy can have a far-reaching impact that helps power performance and drive their business forward.”
For these reasons, he said, companies were beginning “an energy journey”, with energy considered an integral part of both business objectives and boardroom strategies.
Available new technologies have given businesses the opportunity to adopt such strategies, with 41 per cent identifying energy now as a “business priority.”
Wynn-Jones added: “Progress towards different aspects of energy leadership varies from business to business, but, importantly, each company on an energy journey combines vision and execution. This means they’re in a strong position to improve their competitiveness.”
“Demonstrating immediate financial savings through basic energy efficiency can build the case for the importance of energy and help fund further investments in mature energy strategies, including initiatives such as onsite generation, demand-side response and wholesale trading of flexible power.”
The research sample included 1,007 companies with more than 100 employees across Britain, Ireland, Germany, the USA and Canada.