We’ve all seen the climate change headlines that are getting more dramatic every week.

This week, we are hearing about concerns with gas supplies, last week there was a new study that has discovered the World now sees double the number of 50C days each year than the 1980s, and another Global survey has revealed the depth of anxiety that young people feel about climate change, with almost 60% feeling very worried about their future.

Add this to the backdrop of record rising energy costs now at levels not seen since 2008, smaller energy suppliers collapsing and the impending release of the cap on standard energy tariffs from October and we can see a perfect storm brewing, just as the UK prepares to host the biggest climate change summit in November (COP26).

Maybe some of these dramatic headlines are beginning to drive the shift towards alternative options for businesses and consumers in the UK to protect themselves from the steepest energy bills in 10 years. Here are just a few of the key things that are happening to help people make the right decisions:

• The cost of installing renewable energy technology is reducing quickly

• It is now up to 50% cheaper to generate renewable energy than using fossil fuels

• Performance of renewable energy is continually improving with new innovations such as battery storage

• Electricity suppliers are introducing agile tariffs to support renewable energy usage at the cheapest rates

• Grants and subsidies are still available for businesses to benefit from installing renewable energy at their premises

The renewable energy industry is growing fast, as we all learn more about the huge savings and benefits that can be made, whilst also reducing our carbon footprint and supporting the drive towards net zero. For example, UK Solar firms installed 135MW of solar energy capacity in the second quarter of 2021, more than double for the same period in 2020! And large commercial rooftop installations of more than 100kW in size have seen their strongest ever period of sustained growth, supported by a rush of new planning applications for the coming year.

So what’s driving this growth? Aside from the fact that businesses are recognising their responsibilities towards climate change and making positive changes to the way they do business, the facts are clearly indicating that renewable energy is one of the best investments you can make right now.

Currently, businesses are typically paying between 15p and 20p for electricity (but as we all know, that is set to rise significantly). By generating your own renewable energy with solar panels for example, you reduce the need to buy electricity at ever increasing prices – that’s already a big win!

Then, if you are using more of the energy you generate on site, you will get a greater return. For example, a large commercial system of 100kw with 95% on-site usage will generate an average of 13.5% return, as well as over 40 tonnes of carbon reduction.

But, what many business owners may not realise is that by installing renewable energy solutions such as solar PV, renewable heating or battery storage, it could actually be the best investment you will ever make. With solid payback periods of 5-6 years, ongoing energy security and a potential 40 year lifespan on solar PV systems for example, it increasingly makes economic sense to consider the change.

And that’s before you consider other benefits like capital investment allowances. Just like buying plant equipment or machinery, renewable energy will reduce your tax burden. As announced in the latest budget, there will be 100% allowances into next year.

Increasingly, batteries are playing a more important part in renewable energy, enabling you to purchase energy on much cheaper tariffs at off-peak times, which means you can store and use that power during the day to offset more expensive power. In conjunction with solar, the business case looks even better as the solar panels can also charge up the batteries, helping to provide free energy at all times of the day.

The fact is that we will all be using renewable energy at some point in the next 10-20 years. It is clear that businesses are now addressing social and environmental issues as part of their longer term strategies, not to mention the impact of ethical operations on client and staff recruitment and retention, so reducing environmental impact has now become an integral part of many organisations’ brand values, which is a clear step in the right direction.

Whether you’re interested in generating power from the sun, storing and offsetting energy with batteries, using heat pumps to keep your buildings warm or charge your electric vehicles, there’s a renewable way forward for your business to operate, with significant long term savings available whilst doing your bit to reduce the impact of climate change.

To find out more about what your business can do to save money whilst reducing your carbon footprint, talk to our team of specialists at Caplor Energy who will be able to give you clear, unbiased advice on the best solutions for you.