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What is an Energy Services Company (ESCO)?
An Energy Services Company (ESCO) is a business set up to provide energy services to end-users, like the business or organization you’re a part of. Energy Solutions Oxfordshire is one such service, offering you free support and comprehensive Workplace Energy Efficiency Assessments.
An ESCO can encompass a wide range of services, from being assessors to project manager, meaning that they look after elements such as:
- Energy assessments and audits
- Energy efficiency recommendations
- Managing implementation
- Monitoring and evaluation of savings.
A crucial aspect of ESCO work involves identifying energy savings. This starts with assessing a building to pinpoint potential savings areas, followed by recommending measures to enable these savings. ESCOs then leverage these anticipated energy savings to secure financing for project delivery.
The core concept here is that the energy savings achieved should be sufficient to reduce your monthly energy bills, covering any financing repayments from these savings. This way, an ESCO provides a level of assurance about savings and costs for an energy efficiency project.
In the UK there is a lack of ESCOs working with Small and Medium Enterprises (SMEs) on energy efficiency.
Why did we become an ESCO?
While ESCOs already exist in the UK, they predominantly work with large businesses or organisations with a substantial workforce, such as schools or the NHS. This is because financing larger projects is usually more straightforward and minimises financial risk for both parties.
However, there’s a notable absence of ESCOs working with Small and Medium Enterprises (SMEs) on energy efficiency. SMEs, defined as businesses with fewer than 250 employees or a turnover of less than €50 million, make up 99% of businesses in the UK. These enterprises span various sectors, including offices, warehouses, factories, retail shops, cafes, hotels, and more.
When you add it all up, SMEs contribute significantly to energy consumption and carbon emissions. Yet, they often struggle to prioritise energy efficiency due to lack of awareness or challenges in covering upfront costs, more so than larger businesses.
This is where Energy Solutions Oxfordshire steps in. Developed specifically for SMEs in Oxfordshire, our goal is to simplify your organisation’s energy efficiency. We can also provide help with, or advise on local financing opportunities.
Your energy efficiency journey starts here
Reducing energy waste is undoubtedly a smart business move. However, the continuing challenge lies in getting SMEs to understand that getting started on their energy efficiency journey is not difficult or expensive.
To bridge this gap, and emphasise the impact of energy efficiency on your workplace, our team of experts has crafted a free, downloadable Workplace Energy Efficiency Checklist. This checklist outlines straightforward, quick-win actions, serving as an accessible starting point for any workplace to reduce its energy bills and cut carbon emissions.
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