UK Get a £1.7Bn Boost From Energy Efficiency Savings

New analysis released today shows the productivity of the UK economy rose by £1.7 billion between 2010 and 2015 as a result of industrial, services and domestic sector energy efficiency investments.

The 2016 UK Energy Productivity Audit, published ahead of the launch of the Government’s discussion paper on its Industrial Strategy, outlines a strong case for putting energy productivity at the heart of its review.

The Audit was jointly published by a coalition of nine organisations, including industrial manufacturers and leading environmental groups such as Greenpeace; these organisations united in a shared vision to create a more efficient, competitive, low carbon Britain through a common purpose to cut energy waste.

Led by the Association for Decentralised Energy, the Audit shows that the industrial, services and domestic sectors have saved enough energy to heat 13 million homes and improved productivity to the tune of £1.7 billion between 2010 and 2015.

Yet, despite the UK’s energy bill topping a staggering £140 billion in 2015, the equivalent of 7.6% of the economy, the efficiency of electricity supply has remained broadly unchanged, improving only 2 percentage points in the last 5 years.

Analysis of Government data shows the UK is not on track to meet its 2030 Carbon Budgets. Current renewable energy and energy efficiency policies are only able to take the UK around half way towards the cost effective path to decarbonisation, leaving a significant policy gap.

The Audit also found that the UK lags far behind many of its European peers in terms of progress of energy efficiency policies. According to expert views, Germany, the Netherlands and France have all adopted significantly better policies than the UK since 2011.

The Audit concludes that far more significant energy productivity improvements are needed to deliver our long-term climate goals with lowest ecological risk while also supporting economic growth and competition.

Read press release in full here.

Friday 18th November 2016

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