Make UK and Inspired PLC have partnered up to publish Driving Industrial Energy Efficiencies – a guide for manufacturers detailing how energy-efficient practices and technologies can help manufacturers save money and boost productivity as they look to reach net zero.
Our research finds that most firms (92%) already see net zero as a priority, with 68% having already invested towards it and another 22% planning to in the next year.
Against the backdrop of two years of turbulent and high energy costs, and subsequently reduced profit margins, it is also no surprise that 60% of them see net zero as a commercial opportunity, with increased energy efficiency a key approach to achieving it and creating growth, increase in efficiency and new product development too.
Benefits such as lower energy costs and waste; increased productivity; longer-lasting equipment; more stable power supplies; and better environmental outcomes with fewer cooling measures required and less carbon released.
This report outlines a two-pronged approach for firms to realise these benefits and opportunities which many have already been using successfully to reduce their energy consumption.
Starting with Step 1: Undertaking Low-Cost, Low-Effort Measures where firms better their control and understanding of costs and energy usage followed by Step 2: Implementing more complex measures that require more investment which sees firms deliver more costly equipment and process upgrades.
However, on the road to industrial energy efficiency, many firms are reporting barriers stopping them in their tracks, such as a lack of information, advice and guidance, along with access to technical skills and finance.
This is why we are also calling for a Government support package to be outlined in the coming Autumn Statement, to help companies transition to net zero through energy efficiency measures. Among our calls is for them to undertake a gap analysis of the tax incentives available on energy efficiency to check that no type of business falls between the cracks.