Businesses tell us that while they believe that hitting the UK’s net zero target by 2050 is achievable, there are some key areas that will be challenging.
Funding the necessary interventions is a primary concern. As is knowing exactly what measures to take – and at what stage in the journey.
So, we consulted more than 60 businesses across different sectors to gain a better understanding around what they currently do, and where they’d like support, including from future government policies.
We then shared the results, alongside the latest insight and professional advice, in three different Business Blueprint reports. These each focussed on a key area of interest – funding, incentives and on-site generation – from a net zero perspective.
If you’ve not already seen these reports, let me share some highlights here, along with details of how to obtain your own copy.
But before I do, it’s worth noting that in addition to a version applicable to all businesses, you can also select sector-specific reports – for example, for manufacturers, the public sector or transport and logistics operators – here.
Demystifying on-site generation
Our research showed that, despite a challenging economic environment, many businesses are still pressing ahead with their on-site generation plans. Over 50% of those surveyed said they had already invested – or were planning to invest – in their own supply.
Unsurprisingly, the main benefits identified were reducing carbon emissions and cutting energy costs. The latter being especially desirable currently, with the wholesale price of energy so high.
But despite being keen, those not yet committed cited difficulties understanding which technology would be best suited to each site.
To provide some clarity, our Focus on Sustainable On-site Generation report sets out the generation options with advice as to how best determine which technology and approach would be most suitable for your business site and circumstances. It also provides some examples of existing on-site generation projects across different businesses.
In addition, the report shares insight into:
The most popular current energy generation technology choices among businesses
Perceived barriers to investment
The most positive business impacts of on-site generation
Awareness around using Power Purchase Agreements as an alternative
Alongside more funding opportunities, businesses would like to see a greater number of incentivises for decarbonisation activity.
For example, our Focus on Incentives report highlights how the majority would welcome an approach that rewards good sustainability behaviour, as outlined in the Confederation of British Industry’s recent ‘Greening the Tax System’ recommendations. (See our blog on this here.)
But what do businesses see as the priority areas? What do they think about current government policies? And how many have taken advantage of previous incentive schemes (the answer may surprise you)?
This report reveals the answers, as well as looking at the current incentive options available for businesses – and how to find the right scheme for your business.
Finally, if you’d like to participate in future research or have a recommendation for a new report topic, please get in touch via nBS@npower.com. We’d love to hear your views.
Director of Corporate & Strategic Clients. Wayne has worked in the energy industry for more than 20 years, starting as an analyst for an energy consultancy before moving into business development and pricing for npower Business Solutions. Other roles have included developing and strengthening relationships with external consultants and heading up Energy HQ, which provides energy solutions and risk management services to UK businesses. He currently heads up the team looking after nBS’s corporate and strategic customers.