According to a new report published by Make UK and Inspired PLC, manufacturers are facing record-high gas and electricity prices, prompting businesses to seek ways to reduce energy usage. The report highlights the importance of energy-efficient practices and technologies in saving money and increasing productivity, while also working towards Net Zero targets. 92% of businesses prioritize achieving Net Zero, with 68% having already made investments in that direction.
As energy costs continue to fluctuate, manufacturers are forced to operate with narrower profit margins, making energy efficiency projects an appealing solution. Businesses are taking a dual approach to reducing energy consumption, implementing both low-cost measures and more substantial investments in equipment and process upgrades.
Implementing smart metering and sub-metering can provide detailed insights into unnecessary energy use and result in significant cost savings. Moreover, equipping plant machinery with meter reading tools and sensors can enable real-time data access, and implementing Voltage Optimisation can lead to substantial energy savings. Overhauling compressors, which account for a large percentage of industrial energy usage, can also result in significant reductions in energy consumption. Digital controls and heat recovery processes are also highlighted as effective methods for improving energy efficiency.
Faye Skelton, head of policy at Make UK, emphasized the need for Government support in driving the journey towards Net Zero. She called for the introduction of a National Advisory Energy Service and urged for an extension of business rates relief on green plant machinery and equipment.
Adding to these calls, the report includes a request for the Government to conduct a thorough analysis of the tax incentives available for energy efficiency. The report also emphasizes the untapped potential of heat recovery in improving energy efficiency within businesses.
