The Carbon Trust will launch a new service today aimed at helping companies make the business case for energy efficiency by providing advice on the measures to implement and the technologies that deliver the best returns.
A survey by the Carbon Trust of 500 small and medium businesses released today also highlights that, while 76 percent are more concerned about energy prices rising now than six months ago, 35 percent do not have a plan to manage the expected increases.
Myles McCarthy, newly installed managing director of CTI, told BusinessGreen that companies often struggle to push energy efficiency up the corporate agenda, partly because executives demand payback periods for energy efficiency investments that are often far shorter than they require from other business investments.
McCarthy said that the new business, which has received backing from climate change minister Greg Barker, aims to mobilize energy efficiency savings, which in turn could finance investment in new equipment.
The company plans to choose the three most relevant suppliers from a pool of accredited installers, and organize a competitive tender process for those companies planning energy efficiency projects.
Should the client decide to opt for one of the shortlisted suppliers, the supplier will then pay CTI commission.
Companies can also make use of the financial services offered by the Carbon Trust's tie-in with Siemens, although McCarthy stressed that the loans are a separate service to the consultancy provided by CTI.
The business already has its first client in Peach Pubs, where it helped install energy efficient cookers, and is in discussions with several other clients.
"We're pleased with the rate of growth of our early pipeline and the interest from a range of businesses. We're talking to trade associations ... and franchises and large companies wanting to address their supply chain emissions," McCarthy said.
"We'll build the pool [of suppliers] up over time and use our knowledge of that pool to select the best companies for clients."
The business has targeted the lighting and heating, ventilation, and air conditioning sectors, and has around 50 companies currently going through its accreditation process. It is also now widening its scope and calling for companies to come forward to be accredited.
CTI aims to deliver £100 million (US $157.9 million) of energy efficiency savings a year over its first five years, but estimates that the market for energy efficient equipment could be far larger.
"We know many more companies are concerned about rising energy costs and want to act, but they need help," said Carbon Trust chief executive Tom Delay.
"The new business will help unlock £8 billion (US $12.6 billion) of investment into energy efficient equipment. We are confident that our new business will catalyze organizations to take action and in turn benefit from implementing cost effective energy efficiency and renewable energy projects and help the UK capitalize on green growth."
[Editor's note: This article originally appeared at BusinessGreen and is reprinted with permission.]
Light bulb image via Shutterstock.