Electricity and heat generated from recycled food waste, wind turbines and solar panels will save UK businesses £33bn between 2010 and 2030 and cut carbon emissions significantly, a new study has revealed.
The study, commissioned by the specialist energy consultancy Utilyx, reveals that by 2030 on-site energy generation will contribute 14% of the UK’s energy needs – far exceeding the 9% generating capacity recorded in 2011.
On-site energy, also known as decentralised energy, is energy generated by low carbon or renewable technologies, close to where it will be consumed.
Combined heat and power (CHP) and energy from waste are predicted to deliver the greatest savings to UK businesses by 2030 (£20bn) but solar and tri-generation (the simultaneous creation of cooling, heat and power) are expected to grow the fastest.
The research was based upon a detailed forecast model which analysed the uptake of six major decentralised energy technologies across 23 sectors including retail, banking, manufacturing, utilities and construction.
The study, carried out by independent analyst firm Verdantix, found that decentralised energy will deliver total carbon emissions savings of 350 million tonnes by 2030.
The research was supported by interviews with decentralised energy stakeholders including UK based businesses with annual revenues each of at least £150m, decentralised energy technology service providers, energy finance firms, government and trade bodies.