UK Businesses Sitting on Millions of Pounds in Potential Energy Cost Savings
Ameresco UK has identified substantial savings through ESOS audits
FRAMINGHAM, MA and LONDON, UK – April 29, 2016 – Ameresco, Inc. (NYSE: AMRC) a leading energy efficiency and renewable energy company stated today that some UK businesses are sitting on millions of pounds worth of energy cost savings that are waiting to be implemented.
According to energy efficiency and sustainability specialist Ameresco UK, significant potential annual savings have been identified for its clients through ESOS (Energy Savings Opportunity Scheme) audits. ESOS was launched by the Government in 2014 to assess the energy used through buildings, industrial processes and transport and identify cost-effective energy saving and carbon reduction measures. Businesses and not-for-profits with more than 250 staff or turnover in excess of €50m had to comply with the scheme.
Ameresco UK conducted audits on behalf of a variety of private sector businesses nationwide, including high street retailers, pharmaceutical, commercial, industrial, and utility companies. The measures identified are expected to reduce electricity and gas consumption by up to 35% with very attractive project economics.
Britta MacIntosh, Vice President, Ameresco UK Operations, said: “Businesses should seriously consider following through on the recommendations made by the energy experts. Many of the recommendations provide great opportunities for businesses to save both energy and money, often without a substantial time or cost commitment. This is a chance for organisations to drive grassroots change that can have strong long-term corporate and community benefits.”
“Ameresco UK’s ESOS audits have pinpointed various solutions that could unlock huge savings for clients running into the hundreds of thousands, from implementing LED lighting, HVAC, controls, CHP and heat recovery to consolidating utility bills.”
Britta MacIntosh continued: “We believe that the Department of Energy & Climate Change (DECC) and the Environment Agency have outlined a compelling business case for ESOS. They’ve calculated that if businesses covered by ESOS achieved just 5% of the cost-effective energy efficiency potential identified for buildings and industrial processes then collectively they could save more than £250m. However, we believe the savings could be even greater for certain businesses.”
“We appreciate that companies have no obligation to act on the ESOS recommendations, but it is simply good practice to heed advice and take action – the business case is clearly set out in the significant cost savings available. A commitment to sustainability supports business and brand development as well as creating marketing opportunities around corporate social responsibility.”
With the ESOS audit phase now complete, the real benefits are just beginning to materialize as businesses start to implement energy savings programs based on their identified energy efficiency recommendations. Ameresco is currently assisting many of their clients to implement their ESOS recommendations.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.