A survey of more than 500 businesses by accountancy firm PwC has found that one third of industrial firms plans to invest more than £1 million in smart and distributed energy by 2022.

Around one fifth of commercial firms said they plan to make similar-sized investments.
Some 17% of industrial companies want to produce all their own power within the next five years and only rely on the grid as a back-up source.

More than half of the companies that want to invest in smart technology would pick their energy company as their preferred partner, in preference to engineering, technology or telecoms outfits.

Cost is a barrier

But 45% of industrial companies admitted to having no formal energy strategy.
Steve Jennings, Leader of Power and Utilities at PwC, said: “While many will agree that technology innovation has the potential to change the business-to-business energy landscape, our survey shows that barriers remain.

“Costs are a prime concern for UK firms as is their lack of confidence in the speed at which returns will materialise. Unless addressed, these issues will continue to influence both the level and pace of smart energy adoption across the UK business community.”

> Read the report