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Businesses placing increased focus on monitoring energy usage

Research published last week by Pinergy, reveals how businesses are placing increased focus when it comes to monitoring their energy consumption and adjusting their usage to meet their budgets.  While results from the latest Pinergy Business Energy Monitor indicate that 51% of businesses are not monitoring and adjusting their energy consumption, this represents a marginal decrease of 6% since the last survey was conducted six months ago. These findings are published following a year in which Irish electricity prices have increased in 2018.

Of the 49% who are monitoring their energy consumption, over four in five businesses cited that they check their bills every month as the most common monitoring method for energy consumption.This method is significantly higher than other potential means including the use of heating and lighting control devices (18%), smart energy plugs (18%) and smart meters (12%).

With energy expenditure set to increase further over the coming months, Pinergy is calling on businesses to maintain this focus and to take the opportunity to more effectively manage their energy costs in 2019.  Commenting on the Pinergy research, Enda Gunnell, CEO at Pinergy said: “Energy costs represent a significant annual expenditure for Irish businesses and these costs are set to rise even further unless businesses equip themselves with the latest tools to more easily support them in how they control and manage this vital utility.  Our research highlights that businesses could be doing a lot more to effectively manage their costs. Most energy bills tell you what you have used in the past which doesn’t encourage you to make changes to your behaviour and are generally based on estimates.  We welcome the indications from the second half of 2018 which saw more businesses intending to take action in 2019. Their plans include introducing LED lighting but we have seen significant improvements in businesses planning to install smart meters, as well as improvements on those planning to add Electric Vehicles to their fleet. Business intentions around micro generation technologies such as solar and wind are also really encouraging.”

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The comprehensive research based on a representative sample of 100 business decision makers across multiple industry sectors, was conducted by independent research specialist, RED C Research & Marketing.

The research indicates that just over nine in ten (93%) businesses have good intentions to change their behaviour and reduce energy costs within the next 12 months.This represents a slight increase of 3% on the research figures compiled earlier in 2018. Based on the research, 87% of respondents indicated that they intend to install LED lighting, with 68% stating that they are planning to actively monitor and reduce energy usage.

In terms of other activities to be considered to support businesses around their energy management needs, 26% indicated an intention to install a smart meter within the next 12 months, an increase of 12% compared to previous research conducted six months ago.

When it comes to attitudes around climate change, the Pinergy Business Energy Monitor indicates that over half of businesses (53%) are quite aware and very concerned about the impact of climate change.

Overall, the research highlights continued widespread consensus from Irish businesses in favour of more positive government action in order to address the challenges of climate change.In particular, the availability of grants to install energy efficient devices was supported by 98% of respondents to the survey with incentives to increase the use of renewable sources of energy receiving the backing of support from 95% of respondents.

Source – Pinergy

Verde Environmental Consultants can help improve our client’s financial metrics by eliminating costs associated with energy by: (a) buying your energy more effectively and (b) helping you use your energy more efficiently; delivering bottom-line benefits to a wide range of clients, managing energy and utility spend for companies of all sizes – across many sectors.

Whether you want help with developing risk management strategies, portfolio management, carbon emissions reduction, reporting, forecasting or energy contract management, you can rely on us.  Our suite of integrated energy services delivers added value to our clients by helping them use energy more effectively, sustainably and, most importantly, profitably.