The latest quarterly Energy Efficiency Trends report said that suppliers of non-domestic energy efficiency technologies and services had shown the highest level of confidence in the market since tracking began in 2012.
While the market is far from reaching its full potential, almost half of the suppliers said they had increased their employee headcount in the last quarter.
The report was produced by EEVS Insight, Bloomberg New Energy Finance and the Green Investment Bank and looked at five key indicators: order books, staff numbers, sale prices, industry risk and effectiveness of government energy efficiency policy.
UK Green Investment Bank head of strategy, Bill Rogers said the report showed potential for the fledgling market. “Greater energy efficiency is the key to a greener, more productive, competitive and secure UK economy. Although a relatively new market in the UK, non-domestic energy efficiency is fast growing and is forecast to require up to £15 billion of investment between now and 2020. Confidence is critical to a new market which is why the report’s findings, showing optimistic suppliers and consumers, are such good news,” he said.
EEVS insight head of information services, Ian Jeffries, said: “At a time when the UK’s economic recovery is predicted to gather pace, it is pleasing to report that energy efficiency is making its own sustained contribution. Ostensibly a ‘spend to save’ investment proposition, energy efficiency is a great way to cut operational costs and boost productivity. Our latest market report shows that UK organisations are very much alive to this and are actively investing in order to drive long term efficiency savings and enhanced competitiveness. This is great news for UK plc.”