Industrial sector overspending £2.2bn a year on energy bills
A report suggesting the UK industrial sector is wasting £2.2bn a year on energy bills has showcased the urgent need for energy efficiency.
The findings were released by the Energy Efficiency Financing (EEF) scheme, which was set up by the Carbon Trust and Siemens Financial Services to offer financing options to organisations seeking to reduce their energy consumption.
A number of sectors were examined in the analysis to calculate the amount industries were overpaying on their energy bills because of inefficient technology, equipment and controls.
EEF head of green financing Darren Riva said: “Our analysis has shown that there is a huge market potential for energy savings from business investment in energy-efficient equipment, amounting to over £3.7bn per year across the country, and around £2.2bn in the industrial sector alone.
“That potential energy saving covers motors, compressed air, high/low temperature processes, lighting and space heating, amongst others.”
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