Businesses are not installing energy efficient technologies due to large upfront costs in the short term and savings only seen in the long term.
That’s according to a new report which states that payback period for energy efficiency projects “varies greatly based on the client’s energy consumption and the technologies involved”
It adds: “Energy-saving lighting with movement sensors can have a payback period of less than three years, whereas heating, ventilating and air conditioning equipment and insulation can have a payback period of 10 years or more”
Citing DECC the report by financial services firm Standard & Poor’s said energy efficiency projects in UK public building showed overall payback periods of between four and seven years.
The report showed $90 billion (£60bn) was invested in energy efficient buildings sector last year.