Green machines could save firms £414m a year

SMALL and mediumsized firms offering serviced offices are overspending by £82million a year on energy bills as a result of inefficient technology and old equipment, according to analysis by the Energy Efficiency Financing scheme.

Having studied selected sectors’ use of ventilation, lighting, hot water, cooling, heating and other areas of energy consumption, the study states service sector SMEs could save £414million a year if they invested in more energy-efficient equipment.

The EEF scheme is a joint initiative between the Carbon Trust and Siemens Financial Services. Richard Baker, of EEF, said: ‘Today’s credit tightened environment makes it increasingly difficult for SMEs to obtain affordable funding as traditional lenders have become more risk-averse.

‘Many firms feel discouraged from investing in green technologies because of poor access to capital.’