Energy Efficiency

Why it matters, the ROI, nine solutions, eight case studies, six predictions and more...

Author

Andrew Sheehan
March 08, 2024

Let’s talk about Energy Efficiency…

❓ What you’ll learn

  • The returns on energy-efficient investments

  • Nine solutions that are available to businesses

  • The rise of energy management systems

  • How to use Energy-As-A-Service

  • Eight real-world case studies

  • Six Predictions in energy usage and the energy efficiency sector

  • Eight Frequently Asked Questions in Energy Efficiency

💎 Why it matters

The most powerful way to reduce emissions is by preventing them in the first place. CO2 from burning fossil fuels accounted for 56% of all greenhouse gas emissions in Ireland in 2022 (75% in the EU).

🔍 Problem

Over 70% of all the world's energy produced is wasted. That's worth about $3 trillion per annum. Energy costs typically represent 5-10% of business operating costs. 

💡 Solution

Energy efficiency reduces’ business consumption, and contributes significantly to your triple bottom line: Financial, Environmental, and Social.

📈 ROI

Add up all your energy bills for the last 12 months, multiply by 30% and that’s your annual saving (at least!). Next, add a % to your turnover from improved brand reputation. 

🏁 Players

🚩 Heroes launching solutions

🚩 Fighters launching initiatives

🔮Predictions

  1. We’ll see more Energy Management Solutions and Energy-As-A-Service solutions coming onto the market that will be industry-targeted. This will reduce the investment costs in energy efficiency in all industries.

  2. Energy intelligence will completely change how companies manufacture products and deliver services.

  3. Hydrogen fuel cells will replace diesel generators to store energy at data centers and other large energy consumers.

  4. Further regulation will require businesses of all sizes and industries to become more energy efficient leading to a significant demand for infrastructure solution partners to advise on best practices and technologies to help businesses meet their net-zero goals. 

  5. Most of our energy needs in business will be met by renewable energy, which will anchor our energy security in Ireland and globally.

  6. More and more businesses seeing the cost savings from energy efficiency will target it on the P&L.

💰 Recent Rounds

Elyos Energy raised £2.5m in seed funding in October 2023

CYTOK raised €65,000 in seed funding in December 2023

Enzum raised £120,000 in pre-seed funding in October 2023

MAESTRO raised €200,000 in pre-seed funding in October 2023

Gridflow raised HK$120,000 in pre-seed funding in July 2023

✨Frequently Asked Questions (and Answers) on Energy Efficiency

What does energy efficiency mean in business?

Think of a company's energy efficiency as a superpower that allows it to accomplish the same tasks or produce the same output, but with less energy. It's all about fine-tuning systems and processes within the organisation to sip, not gulp energy, all without sacrificing performance or productivity.

What is energy efficiency in industry?

In the industrial sector, energy efficiency refers to the use of advanced technologies and practices that reduce energy consumption and improve the process efficiency of manufacturing and production. These can include leveraging predictive analytics, AI technologies for process optimization, and the integration of energy-efficient equipment and solutions.

What is a good example of energy efficiency in business?

A good example that’s also very simple is the use of LED lighting, which consumes significantly less energy than traditional lighting systems and has a much longer lifespan. Businesses are increasingly adopting LED lights due to their cost savings over time and improved environmental impact.

What are energy efficiency benefits for businesses?

Energy efficiency offers numerous benefits, including reduced operating costs, enhanced competitiveness, and improved environmental outcomes. Companies that invest in energy-efficient technologies and practices can see a reduction in energy expenses, contributing to lower overall operating costs. Additionally, energy efficiency can bolster a company's reputation as a sustainable and responsible entity.

How do I make my business more energy efficient?

Businesses can become more energy efficient by implementing several strategies, such as monitoring and managing energy use more effectively, adopting high-performance building codes for new constructions or deep retrofits, expanding research and development in energy-efficient technologies, and making smarter business decisions regarding equipment and operations.

What is an energy efficiency plan?

An energy efficiency plan outlines a comprehensive approach for reducing energy consumption across a company's operations. It includes identifying energy-saving opportunities, setting measurable goals, implementing energy-efficient technologies and practices, and regularly monitoring progress to ensure continuous improvement.

What is an energy audit for small business?

An energy audit for a small business involves a thorough examination of the business's energy use to identify opportunities for improving energy efficiency. It assesses various aspects, including insulation, air leakage, lighting, heating, ventilation, and air conditioning systems, to provide recommendations on how to reduce energy consumption and save on energy costs.

For businesses looking to enhance their energy efficiency, understanding and implementing the latest energy-efficient technologies and practices is crucial. By focusing on areas such as insulation, lighting, HVAC systems, and adopting smart energy use strategies, companies can significantly reduce their energy consumption, lower costs, and contribute to a more sustainable future.

The energy efficiency grant

If your small business has fewer than 50 employees, you may be able to get up to €5,000 towards the costs of energy-efficient technology and equipment.

See full eligibility criteria for the Energy Efficiency Grant on the Local Enterprise website.