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UK Energy Efficiency Suffering from Lack of Government Incentives

Energy efficiency in the UK is suffering from a lack of incentives from the government, according to the latest energy survey by Tuffin Ferraby Taylor (TFT).

The study found that 80% of commercial property landlords believe that a lack of incentives from the government is the primary barrier that is stopping widespread energy efficiency measures being brought in across the country’s commercial real estate.

Meanwhile, another 75% stated that the existing regulatory framework is too difficult to work with, following a significant majority of respondents who say that attitudes to energy efficiency have improved over the last few years.

The TFT Energy Survey 2016 is the first one to be carried out by the firm and explores the barriers in place that are preventing the delivery of a truly energy efficient real estate.

The survey is primarily aimed at managers and investors and looks at a number of important issues such as whether energy efficiency has become a higher priority over the last few years.

TFT partner and Head of Sustainability, Mat Lown, said that the removal of incentives from the government, along with the complex nature and scale of the various pieces of energy regulation and policy statements, this has caused an erosion of confidence in the sector that has formed a significant barrier in the implementation of efficiency measures.

He added: “60% of investors can see the clear investment potential of energy efficiency projects but, to date, investment has been targeted towards the large-scale projects. We hope that with more mainstream banks beginning to provide funding, smaller-scale projects will be able to attract funding streams.

““Lack of confidence came across strongly among many respondents. The market could benefit from standardised methodology for appraising the viability of projects. Particularly among investors, knowing that the advice they were receiving is truly independent is clearly a high priority.”

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BDC 317 : Jun 2024