Building our Industrial Strategy BEIS green paper asks, how Government can support businesses to realise savings through greater energy efficiency?
Last week the UK Government published its green paper setting out its proposal to build a modern industrial strategy. Focussed on 10 pillars of strategy, the 7th pillar delivering affordable energy and clean growth identifies the importance of keeping business costs down and their long term economic benefit in the transition to a low-carbon economy.
It recognises that although energy costs on average account for 3% of UK business expenditure, for the 15 energy intensive sectors such as steel, chemicals, glassmaking and ceramics energy costs represent more than 10 %.
At Heatcatcher we have demonstrated how the implementation of waste heat recovery technology for conversion to electricity, selling the heat over the fence or providing cooling offers a solution to significantly reduce these costs.
As part of the long-term road map to minimise business energy costs, due for publication in 2017, the government is expected to set out its plans on how to support these heat recovery upgrades with the launch of its Industrial Heat Recovery Support programme. Expected with its first phase funding call later this year to support the feasibility studies required for the implementation of Waste Heat Recovery projects. The second funding phase expected in 2018 to support the best value projects identified from the feasibility studies with the funding needed to meet industries investment returns.
The green paper sets out the proposal to build a modern industrial strategy to provoke ideas debate and feedback by 17th April, we will be putting forward evidence and proposals of how the recovery and reuse of waste heat is key to the success of a modern industrial strategy.
Here is the link to the government paper https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/586626/building-our-industrial-strategy-green-paper.pdf