Industry leaders are generating their own electricity in a bid to cut costs and save the planet
A profound shift is under way in the UK energy market, as companies increasingly turn to their own, on-site generation of power to meet at least some of their energy needs.
British businesses are continuing to demonstrate their commitment to green initiatives with more than one in three businesses now producing at least some of their own electricity. According to a report from The Economist, businesses in the retail sector are well ahead of the trend, with almost 40% generating their own energy.
The recent survey of 450 senior executives, examined the energy strategies of businesses from across a wide range of industries, including manufacturing, transport, hospitality and retail. They found that businesses in the retail sector were most likely to be using commercial solar power, with almost 40% of those surveyed regularly generating their own energy on site. The hospitality sector wasn’t far behind.
Bentleys Crewe plant has 30,000 solar panels installed, the output is enough to power the equivalent of 1,750 homes.
It make sense when you think about it, as companies in both sectors both use large premises that are often spread across a wide area, which can easily accommodate commercial solar panels on rooftops or top floors.
Wind power was found to be another popular method, but its application was more limited as businesses would need to have access to open areas where wind would not be blocked by other nearby buildings or structures.
The Federation of Small Businesses said that 12pc of its members generated their own power, also primarily using solar panels, which have boomed in recent years thanks to Government subsidy schemes.
So why are so many businesses looking to generate their own energy? The trend is partly down to ever-increasing energy costs in the UK – which has some of the highest electricity prices in Europe. The survey showed that cost savings were the top reason for companies producing their own electricity, cited by 48% of respondents.
However environmental concerns are making the headlines more often than ever, and increasingly, larger British businesses are looking to follow the examples already set by international brands like Lego, which hit its 100% renewable energy target in June of last year.
It also helps that the cost of some renewable-energy generators has really come down in the past few years. Solar panels and batteries, both of which play an important part in off-grid energy-generation, are now much more affordable, as is the cost of installing them. There are also tax incentives and other benefits that companies are eligible for, which can make renewable energy an economically attractive prospect.