Business energy efficiency retrofits could help firms significantly reduce their carbon emissions, a new study has found.
According to a report by market intelligence firm Pike Research, energy efficiency improvements could save firms a substantial amount of money in business energy costs.
Despite the gains that can be made from such techniques, the actual market for energy efficiency retrofits is only a small fraction of the potential, the study found.
Clint Wheelock, managing director of Pike Research, pointed out that the building retrofit industry faces a number of key challenges.
"The current financial crisis has had a significant dampening effect on property owners' investments in their properties," he said.
Mr Wheelock added that financing for such projects is scarce and the limited investment in building efficiency is not keeping pace with the growing demand for energy.
WSP Environment & Energy recently predicted that up to 7,500 firms are expected to miss the September 30th deadline for registering for the mandatory Carbon Reduction Commitment Energy Efficiency Scheme.
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