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Page 1: Energy Efficiency Trends Vol. 25 - eevs.co.uk · Welcome to the latest edition of U.K. Energy Efficiency Trends (Vol. 25, 3Q 2018), the leading source of market insight for the energy

SP

Energy Efficiency Trends Vol. 25 Essential insight for consumers and suppliers of non-domestic energy efficiency in the U.K. December 4, 2018

Page 2: Energy Efficiency Trends Vol. 25 - eevs.co.uk · Welcome to the latest edition of U.K. Energy Efficiency Trends (Vol. 25, 3Q 2018), the leading source of market insight for the energy

Energy Efficiency Trends Vol. 25

December 4, 2018

© Bloomberg Finance L.P.2018

No portion of this document may be reproduced, scanned into an electronic system, distributed, publicly displayed or used as the basis of derivative works without the prior written consent of Bloomberg Finance L.P. For more information on terms of use, please contact [email protected]. Copyright and Disclaimer notice on page 24 applies throughout.

SPONSORED BY

Bird & Bird supports its clients to achieve energy savings, security of supply and reputational benefits from implementing energy management

solutions. The firm has an international, market-leading legal team with over ten years' experience in all aspects of energy management. For

more information, please call Levent Gurdenli, Co-head of Energy Management, on +44 (0) 20 7415 6612, email

[email protected] or visit www.twobirds.com

The Environmental Industries Commission (EIC), founded in 1995, represents the businesses that provide the technology and services that

deliver environmental performance across the economy. In short, we are the voice of the green economy. Our members are innovative and

the leading players in their field, including technology manufacturers, developers, universities and consultancies. For more information, please

call Matthew Farrow, Executive Director, on +44 (0) 20 7654 9944, email [email protected] or visit www.eic-uk.co.uk

APC Lighting specialises in Lighting products and services for the purpose of maximising energy and operational efficiency in buildings. The

company delivers a seamless, in-house service from initial site survey through to completed installation for leading private and public sector

organisations, helping to improve building environments and meet energy efficiency objectives. For more information, please call John Hatt,

Contracts Director, on +44 (0) 330 313 3232, email [email protected] or visit www.apcplc.com/lighting

ENDORESED BY

Page 3: Energy Efficiency Trends Vol. 25 - eevs.co.uk · Welcome to the latest edition of U.K. Energy Efficiency Trends (Vol. 25, 3Q 2018), the leading source of market insight for the energy

Energy Efficiency Trends Vol. 25

December 4, 2018

© Bloomberg Finance L.P.2018

No portion of this document may be reproduced, scanned into an electronic system, distributed, publicly displayed or used as the basis of derivative works without the prior written consent of Bloomberg Finance L.P. For more information on terms of use, please contact [email protected]. Copyright and Disclaimer notice on page 24 applies throughout.

Contents

Section 1. Introduction 1

Section 2. Executive Summary 2

2.1. Supplier trends 2

2.2. Consumer trends 3

Section 3. Supplier trends 5

3.1. The order book 5

3.2. Staff numbers 6

3.3. Sale prices 6

3.4. Industry risk 7

3.5. Government Effectiveness 8

Section 4. Consumer Trends 9

4.1. Technologies and measures 9

4.2. Property types 10

4.3. Project costs 11

4.4. Project finance 11

4.5. Financial payback 12

4.6. Measurement and verification 12

4.7. Consumers not undertaking energy efficiency 13

Appendices 14

Appendix A: Methodology 14

Appendix B: Supplier respondents 15

Appendix C: Consumer respondents 16

About us 17

Contact us 19

Page 4: Energy Efficiency Trends Vol. 25 - eevs.co.uk · Welcome to the latest edition of U.K. Energy Efficiency Trends (Vol. 25, 3Q 2018), the leading source of market insight for the energy

Energy Efficiency Trends Vol. 25

December 4, 2018

© Bloomberg Finance L.P.2018

No portion of this document may be reproduced, scanned into an electronic system, distributed, publicly displayed or used as the basis of derivative works without the prior written consent of Bloomberg Finance L.P. For more information on terms of use, please contact [email protected]. Copyright and Disclaimer notice on page 24 applies throughout.

Table of figures

Figure 1: Market Monitor – tracking industry confidence................................... 2

Figure 2: Consumers commissioning energy efficiency projects ....................... 3

Figure 3: Trends in orders from national customers ......................................... 5

Figure 4: Trends in orders from overseas customers ....................................... 5

Figure 5: Trends in the number of staff employed ............................................ 6

Figure 6: Trends in sale prices achieved .......................................................... 6

Figure 7: Key issues of concern to energy-efficiency suppliers, 3Q 2018 ......... 7

Figure 8: Trends in key issues of concern ........................................................ 7

Figure 9: Trends in industry views on energy efficiency policy ......................... 8

Figure 10: Trends in industry views of the wider economy’s management ...... 8

Figure 11: Uptake of energy efficiency technologies, 3Q 2018 versus four-quarter average ................................................................................................. 9

Figure 12: Trends in top technologies for consumer uptake ............................. 9

Figure 13: Breakdown of commissioned projects by property type, 3Q 2018 .. 10

Figure 14: Trends of commissioned projects by property type ........................ 10

Figure 15: Trends in capital costs ................................................................... 11

Figure 16: Trends in finance models .............................................................. 11

Figure 17: Trends in expected payback periods ............................................. 12

Figure 18: Trends in the use of good practice M&V ........................................ 12

Figure 19: Consumer reasons for lack of efficiency uptake, 3Q 2018 versus four-quarter average ....................................................................................... 13

Figure 20: Who completed the survey? .......................................................... 14

Figure 21: Breakdown of respondents by supplier type, 3Q 2018 ................... 15

Figure 22: Organization size of supplier respondents (no. of employees), 3Q 2018 ................................................................................................................ 15

Figure 23: Consumer respondents by sector, 3Q 2018 .................................. 16

Figure 24: Organization size of consumer respondents (no. of employees), 3Q 2018 ................................................................................................................ 16

Page 5: Energy Efficiency Trends Vol. 25 - eevs.co.uk · Welcome to the latest edition of U.K. Energy Efficiency Trends (Vol. 25, 3Q 2018), the leading source of market insight for the energy

Energy Efficiency Trends Vol. 25

December 4, 2018

© Bloomberg Finance L.P.2018

No portion of this document may be reproduced, scanned into an electronic system, distributed, publicly displayed or used as the basis of derivative works without the prior written consent of Bloomberg Finance L.P. For more information on terms of use, please contact [email protected]. Copyright and Disclaimer notice on page 24 applies throughout. 1

Section 1. Introduction

Welcome to the latest edition of U.K. Energy Efficiency Trends (Vol. 25, 3Q 2018), the leading source of market insight for the energy efficiency sector. “Context is everything”, once said an American sociologist, and looking back at the second quarter results from earlier in the year, the 3Q results were the first positive set of feedback received for more than 12 months - during which time the market was particularly downbeat. This is the context for this latest set of results. And as you might imagine, we were keen to see whether the positive and upbeat result from 2Q would be sustained and perhaps point us towards a more buoyant phase. Or, conversely, if the 2Q result was shown to be a blip, and we return to the more pessimistic trend line of the previous 18 months (and a somewhat less than positive outlook). Fortunately, the results in this edition (Vol. 25) have followed the positive trajectory of 2Q. And while not quite as strong as the previous three months, many of the gains have in most part been sustained, not least the strong U.K. order books reported by suppliers. This ‘mini-trend’ is good news for the sector and points to increasing market stability and potential for growth. Clearly, Brexit will have a material influence on the sector’s development, but in the absence of a conclusive political outcome, it is difficult to make worthwhile forecasts.

As ever, if you have any questions or comments in relation to the findings, please do get in touch.

Michael Kenefick

BloombergNEF

Ian Jeffries

EEVS Insight

Page 6: Energy Efficiency Trends Vol. 25 - eevs.co.uk · Welcome to the latest edition of U.K. Energy Efficiency Trends (Vol. 25, 3Q 2018), the leading source of market insight for the energy

Energy Efficiency Trends Vol. 25

December 4, 2018

© Bloomberg Finance L.P.2018

No portion of this document may be reproduced, scanned into an electronic system, distributed, publicly displayed or used as the basis of derivative works without the prior written consent of Bloomberg Finance L.P. For more information on terms of use, please contact [email protected]. Copyright and Disclaimer notice on page 24 applies throughout. 2

Section 2. Executive Summary

The EEVS/Bloomberg Energy Efficiency Trends Survey (Vol.25) was completed

by 102 U.K.-based respondents (56 consumer organizations and 46 suppliers),

between October 9 and November 9, 2018. Their answers relate to the situation

in the third quarter of 2018.

2.1. Supplier trends

Figure 1: Market Monitor – tracking industry confidence

Source: EEVS, BloombergNEF. Note: based on weighted confidence indicators from Figures 3, 4,

5, 6, and 9. Zero represents neutrality.

• Overall confidence: Figure 1 shows that market confidence reduced slightly this quarter

following the welcome uptick reported in 2Q. Despite this flattening, outlook remains positive

and takes an increasingly optimistic outlook into the forthcoming three months. Some reasons

underpinning this result are highlighted below:

• Orders: Figure 3 (page 5) shows that the strengthening order volumes seen in 2Q were

largely sustained in this quarter. In fact, an almost identical set of results were reported this

time and eight out of 10 suppliers reported stable or growing order books. This is a positive

set of figures given the preceding year’s downward trend.

• Staffing: Suppliers reported a decrease in headcount this quarter following three consecutive

quarters of headcount growth. And while no significant jumps were reported by any suppliers,

the balance was in favour of growth with 13% of suppliers reporting slight declines to staffing

levels and 24% reporting slight increases.

• Prices: Following the sharp increase in prices reported by 40% of respondents last quarter

(2Q 2018), this quarter’s results returned more closely to the longer-term trend line. And for

the majority of suppliers (76%) there was little change in sale prices. However, Figure 6

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Page 7: Energy Efficiency Trends Vol. 25 - eevs.co.uk · Welcome to the latest edition of U.K. Energy Efficiency Trends (Vol. 25, 3Q 2018), the leading source of market insight for the energy

Energy Efficiency Trends Vol. 25

December 4, 2018

© Bloomberg Finance L.P.2018

No portion of this document may be reproduced, scanned into an electronic system, distributed, publicly displayed or used as the basis of derivative works without the prior written consent of Bloomberg Finance L.P. For more information on terms of use, please contact [email protected]. Copyright and Disclaimer notice on page 24 applies throughout. 3

shows that the balance is in favour of price inflation with 20% reporting slight price increases

and only 4% reporting some reductions. Following the mini-trend of the previous two quarters,

no suppliers reported any major fluctuations in sale prices.

• Government Action: On energy efficiency policy, supplier sentiment remains firmly in negative

territory - continuing the long-term trend. Less than two out of 10 suppliers considered that the

current policy framework effectively supports the sector. And in relation to the wider economy,

while sentiment remains negative, there was a slight increase in support for government action

on the economy this quarter. It will be interesting to see if this continues as Brexit negotiations

reach a conclusion over the forthcoming two quarters.

2.2. Consumer trends

Figure 2: Consumers commissioning energy efficiency projects

Source: EEVS, BloombergNEF. Note: shows the proportion of respondents who have

commissioned (or plan to commission) projects in a given quarter.

• Procurement levels: Figure 2 (above) shows solid levels of consumer procurement during

3Q 2018, with around 7 out of 10 consumers reporting projects in the last three months.

• Technologies: Figure 11 (page 9) shows that lighting has retained its leading position at the

top of the technologies list, followed by lighting controls and boiler controls/optimization. After

a period of strong growth, Building Energy Management Systems (BEMS) saw a sharp decline

in reported orders this quarter.

• Spending: Following a significant uptick in project spend last quarter, Figure 15 (page 11)

shows that levels have returned to the normal range this quarter. However, even with this

downtick, spending remained strong and sits at the higher end of our median trend line (at

around 250,000 pounds ($320,000) per project). This appears to have been driven by a

material number of very large projects being commissioned this quarter. Very large projects

cost more than 500,000 pounds on average.

• Project Finance & Expected Payback: This quarter saw little change to long-term trends.

The vast majority of projects (around 7 out of 10) continue to be financed using in-house

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Page 8: Energy Efficiency Trends Vol. 25 - eevs.co.uk · Welcome to the latest edition of U.K. Energy Efficiency Trends (Vol. 25, 3Q 2018), the leading source of market insight for the energy

Energy Efficiency Trends Vol. 25

December 4, 2018

© Bloomberg Finance L.P.2018

No portion of this document may be reproduced, scanned into an electronic system, distributed, publicly displayed or used as the basis of derivative works without the prior written consent of Bloomberg Finance L.P. For more information on terms of use, please contact [email protected]. Copyright and Disclaimer notice on page 24 applies throughout. 4

sources of capital (see Figure 16, page 11), while financial payback expectations tightened a

little to just less than four years (see Figure 17, page 12).

Page 9: Energy Efficiency Trends Vol. 25 - eevs.co.uk · Welcome to the latest edition of U.K. Energy Efficiency Trends (Vol. 25, 3Q 2018), the leading source of market insight for the energy

Energy Efficiency Trends Vol. 25

December 4, 2018

© Bloomberg Finance L.P.2018

No portion of this document may be reproduced, scanned into an electronic system, distributed, publicly displayed or used as the basis of derivative works without the prior written consent of Bloomberg Finance L.P. For more information on terms of use, please contact [email protected]. Copyright and Disclaimer notice on page 24 applies throughout. 5

Section 3. Supplier trends

3.1. The order book

Figure 3: Trends in orders from national customers

Source: EEVS, BloombergNEF. Note: the confidence indicator is an input from the market monitor

in Figure 1. Zero represents neutrality.

Figure 4: Trends in orders from overseas customers

Source: EEVS, BloombergNEF. Note: the confidence indicator is an input from the market monitor

in Figure 1. Zero represents neutrality.

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Page 10: Energy Efficiency Trends Vol. 25 - eevs.co.uk · Welcome to the latest edition of U.K. Energy Efficiency Trends (Vol. 25, 3Q 2018), the leading source of market insight for the energy

Energy Efficiency Trends Vol. 25

December 4, 2018

© Bloomberg Finance L.P.2018

No portion of this document may be reproduced, scanned into an electronic system, distributed, publicly displayed or used as the basis of derivative works without the prior written consent of Bloomberg Finance L.P. For more information on terms of use, please contact [email protected]. Copyright and Disclaimer notice on page 24 applies throughout. 6

3.2. Staff numbers

Figure 5: Trends in the number of staff employed

Source: EEVS, BloombergNEF. Note: the confidence indicator is an input from the market monitor

in Figure 1. Zero represents neutrality.

3.3. Sale prices

Figure 6: Trends in sale prices achieved

Source: EEVS, BloombergNEF. Note: the confidence indicator is an input from the market monitor

in Figure 1. Zero represents neutrality.

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Page 11: Energy Efficiency Trends Vol. 25 - eevs.co.uk · Welcome to the latest edition of U.K. Energy Efficiency Trends (Vol. 25, 3Q 2018), the leading source of market insight for the energy

Energy Efficiency Trends Vol. 25

December 4, 2018

© Bloomberg Finance L.P.2018

No portion of this document may be reproduced, scanned into an electronic system, distributed, publicly displayed or used as the basis of derivative works without the prior written consent of Bloomberg Finance L.P. For more information on terms of use, please contact [email protected]. Copyright and Disclaimer notice on page 24 applies throughout. 7

3.4. Industry risk

Figure 7: Key issues of concern to energy-efficiency suppliers, 3Q 2018

Source: EEVS, BloombergNEF. Note: each supplier respondent was asked to select their primary

issue of concern.

Figure 8: Trends in key issues of concern

Source: EEVS, BloombergNEF. Note: each supplier respondent was asked to select their primary

issue of concern.

Customer demand30%

Subsidy / policy uncertainty 20%

Pressure to reduce costs

15%

Regulation9%

National competition

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Raising finance7%

Staff costs 2%

Other 9%

Customer demand

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Page 12: Energy Efficiency Trends Vol. 25 - eevs.co.uk · Welcome to the latest edition of U.K. Energy Efficiency Trends (Vol. 25, 3Q 2018), the leading source of market insight for the energy

Energy Efficiency Trends Vol. 25

December 4, 2018

© Bloomberg Finance L.P.2018

No portion of this document may be reproduced, scanned into an electronic system, distributed, publicly displayed or used as the basis of derivative works without the prior written consent of Bloomberg Finance L.P. For more information on terms of use, please contact [email protected]. Copyright and Disclaimer notice on page 24 applies throughout. 8

3.5. Government Effectiveness

Figure 9: Trends in industry views on energy efficiency policy

Source: EEVS, BloombergNEF. Note: the confidence indicator is an input from the market monitor

in Figure 1. Zero represents neutrality.

Figure 10: Trends in industry views of the wider economy’s management

Source: EEVS, BloombergNEF. Note: CI = confidence indicator. The dotted line represents the CI

from Figure 9, which is overlaid here for comparison with views on the wider economy. Zero

represents neutrality.

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Page 13: Energy Efficiency Trends Vol. 25 - eevs.co.uk · Welcome to the latest edition of U.K. Energy Efficiency Trends (Vol. 25, 3Q 2018), the leading source of market insight for the energy

Energy Efficiency Trends Vol. 25

December 4, 2018

© Bloomberg Finance L.P.2018

No portion of this document may be reproduced, scanned into an electronic system, distributed, publicly displayed or used as the basis of derivative works without the prior written consent of Bloomberg Finance L.P. For more information on terms of use, please contact [email protected]. Copyright and Disclaimer notice on page 24 applies throughout. 9

Section 4. Consumer Trends

4.1. Technologies and measures

Figure 11: Uptake of energy efficiency technologies, 3Q 2018 versus four-quarter average

Source: EEVS, BloombergNEF. Note: The graph ranks technologies according to the proportion

of consumers who commissioned a project in each technology, out of the overall number of

consumers commissioning projects.

Figure 12: Trends in top technologies for consumer uptake

Source: EEVS, BloombergNEF. Note: The graph shows the proportion of respondents who

commissioned a project in the respective category, out of the total number of respondents who

commissioned a project.

0% 20% 40% 60% 80% 100%

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Fuel cells

Voltage optimization / power factor correction

Radiant and warm air heaters

Solar thermal

Thermal storage

Battery storage

Demand response capability

District heating

Energy recovery

Heat exchangers

Heat pumps

High speed hand dryers

Refrigeration efficiency

Off-site renewables procurement (e.g. power-purchase agreement)

Compressed air equipment

Combined heat and power (CHP)

Refrigeration controls / optimization

Boiler efficiency

Building fabric

Motors and drives

Solar PV

Ventilation, cooling & air conditioning

Monitoring & targeting (M&T) / smart metering

Building energy management system (BEMS)

Behaviour change

Boiler controls / optimization

Lighting controls

Lighting efficiency

3Q 2018

T12 average

Page 14: Energy Efficiency Trends Vol. 25 - eevs.co.uk · Welcome to the latest edition of U.K. Energy Efficiency Trends (Vol. 25, 3Q 2018), the leading source of market insight for the energy

Energy Efficiency Trends Vol. 25

December 4, 2018

© Bloomberg Finance L.P.2018

No portion of this document may be reproduced, scanned into an electronic system, distributed, publicly displayed or used as the basis of derivative works without the prior written consent of Bloomberg Finance L.P. For more information on terms of use, please contact [email protected]. Copyright and Disclaimer notice on page 24 applies throughout. 10

4.2. Property types

Figure 13: Breakdown of commissioned projects by property type, 3Q 2018

Source: EEVS, BloombergNEF

Figure 14: Trends of commissioned projects by property type

Source: EEVS, BloombergNEF

Office14%

Public building

11%

School 3%

University7%

Manufacturing7%

Industrial12%

Leisure centre / sports13%

Hospital3%

Retail –high street

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Data centre3%

Laboratory3%

Residential5%

Restaurant & bars1%

Warehousing & distribution

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Page 15: Energy Efficiency Trends Vol. 25 - eevs.co.uk · Welcome to the latest edition of U.K. Energy Efficiency Trends (Vol. 25, 3Q 2018), the leading source of market insight for the energy

Energy Efficiency Trends Vol. 25

December 4, 2018

© Bloomberg Finance L.P.2018

No portion of this document may be reproduced, scanned into an electronic system, distributed, publicly displayed or used as the basis of derivative works without the prior written consent of Bloomberg Finance L.P. For more information on terms of use, please contact [email protected]. Copyright and Disclaimer notice on page 24 applies throughout. 11

4.3. Project costs

Figure 15: Trends in capital costs

% projects in each band £ Thousands

Source: EEVS, BloombergNEF. Note: the line shows the cost trend for energy efficiency projects

over time based on the estimated median.

4.4. Project finance

Figure 16: Trends in finance models

Source: EEVS, BloombergNEF

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Page 16: Energy Efficiency Trends Vol. 25 - eevs.co.uk · Welcome to the latest edition of U.K. Energy Efficiency Trends (Vol. 25, 3Q 2018), the leading source of market insight for the energy

Energy Efficiency Trends Vol. 25

December 4, 2018

© Bloomberg Finance L.P.2018

No portion of this document may be reproduced, scanned into an electronic system, distributed, publicly displayed or used as the basis of derivative works without the prior written consent of Bloomberg Finance L.P. For more information on terms of use, please contact [email protected]. Copyright and Disclaimer notice on page 24 applies throughout. 12

4.5. Financial payback

Figure 17: Trends in expected payback periods

% projects in each band Number of years

Source: EEVS, BloombergNEF. Note: the line shows the expected payback trend for energy

efficiency projects based on the estimated median.

4.6. Measurement and verification

Figure 18: Trends in the use of good practice M&V

Source: EEVS, BloombergNEF. Note: M&V = measurement and verification.

0

2

4

6

8

10

0%

20%

40%

60%

80%

100%

3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q

2012 2013 2014 2015 2016 2017 2018

Unknown

10 + years

5-10 years

3-5 Years

1-3 years

<1 year

Median

(RH-axis)

0%

20%

40%

60%

80%

100%

3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q

2012 2013 2014 2015 2016 2017 2018

No

Unknown

Yes

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4.7. Consumers not undertaking energy efficiency

Figure 19: Consumer reasons for lack of efficiency uptake, 3Q 2018 versus four-quarter

average

Source: EEVS, BloombergNEF. Note: respondents not commissioning projects may have cited

multiple reasons. The chart shows the proportion of respondents in each category, out of the total

number of respondents not commissioning projects. Therefore, results do not add up to 100%.

0% 20% 40% 60% 80% 100%

Other

Subsidy uncertainty

Wider macro-economic uncertainty

Lack of trust in the industry

Negative impact on core operations

Preference for renewable energy (e.g. solar)

Buildings are landlord-owned, so little upside

Senior management not bought in

Energy efficiency has already been undertaken

Higher priorities elsewhere

Uncertainty over the financial benefits / business case

Lack of affordable finance

Lack of resource

Future projects are planned

3Q 2018 (negative impact)

Four-quarter average

3Q 2018 (industry neutral)

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Appendices

Appendix A: Methodology

The EEVS/Bloomberg Energy Efficiency Trends Survey (Vol.25) was conducted between October

9 and November 9, 2018, and completed by 102 U.K.-based respondents (56 consumer

organizations and 46 suppliers).

This is the 25th in a series of reports showing industry trends in non-residential energy efficiency.

As the report series evolves, we continue to make minor tweaks.

Initially, the report covered a broad range of European countries, but since Volume 8, it has

presented U.K.-based results only, as these consistently accounted for the bulk of data received.

In focusing the report on a single country with better data coverage, we were able to present

cleaner, more robust results. This coincided with a revamp of the analysis including – among other

modifications – the introduction of a set of time series charts.

Please reach out should you wish to discuss any of the trends observed in the charts.

Figure 20: Who completed the survey?

Source: EEVS, BloombergNEF

Consumer55%

Supplier45%

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Appendix B: Supplier respondents

Figure 21: Breakdown of respondents by supplier type, 3Q 2018

Source: EEVS, BloombergNEF

Consultancy services59%ESCO

20%

Lighting6%

Building management

systems6%

Finance7%

Refrigeration2%

Figure 22: Organization size of supplier respondents (no. of employees), 3Q 2018

Source: EEVS, BloombergNEF

37%

26%

18%

2%

2%

15%

Less than 10

10-50

51-250

251-500

501-1000

More than 1000

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Appendix C: Consumer

respondents

Figure 23: Consumer respondents by sector, 3Q 2018

Source: EEVS, BloombergNEF

Figure 24: Organization size of consumer respondents (no. of employees), 3Q 2018

Source: EEVS, BloombergNEF

Local or regional authority

14%

Health9%

University7%

Other5%

Retail & wholesale7%

Leisure & recreation7%

Services & storage4%

Property & real estate4%

Food & drink4%

Manufacturing18%

Chemicals4%

Other5%

Transportation2%

Other11%

Local or regionalauthority

Retail & wholesale

Manufacturing

Other

Public / institutional

Commercial

Industrial

Other

7%

5%

9%

11%

68%

Less than 50

50 - 250

251 - 500

501 - 1000

More than 1000

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About us

About EEVS

EEVS is the U.K.’s leading provider of performance assurance, analysis and information services in relation

to energy efficiency. Our performance assurance services include working with clients to devise and develop

performance management systems and strategies; procurement policies and tender evaluations; due

diligence on performance contracts and guarantees; performance and financial risk analysis.

Alongside this, our established team of energy analysts provide high quality, independent Measurement and Verification (M&V) services

for all sizes and types of energy saving projects. Since 2011 we have evaluated the savings performance of hundreds of energy efficiency

projects to the global good practice standard, IPMVP. Our trusted analysis helps suppliers to credibly prove their project’s or technology’s

saving performance, whilst providing customers with much-needed certainty around their investment’s return and value for money.

EEVS wider market information and research services – in particular the Energy Efficiency Trends publications – aim to improve the

attractiveness, transparency and investability of the energy efficiency market through the provision of reliable market-level performance

and trend information. For further details about EEVS and our services, please visit www.eevs.co.uk

About BloombergNEF

BloombergNEF (BNEF) is the definitive source of insight, data and news on the transformation of the

energy sector. BNEF has staff of more than 200, based in London, New York, Beijing, Shanghai, Cape

Town, Hong Kong, Singapore, Munich, New Delhi, San Francisco, São Paulo, Sydney, Tokyo,

Washington D.C., and Zurich.

BNEF Insight Services provide financial, economic and policy analysis in the following industries and markets: wind, solar,

bioenergy, geothermal, hydro & marine, gas, nuclear, carbon capture and storage, energy efficiency, digital energy, energy

storage, advanced transportation, carbon markets, REC markets, power markets and water. BNEF’s Industry Intelligence Service

provides access to the world’s most comprehensive database of assets, investments, companies and equipment in the same

sectors. The BNEF News Service is the leading global news service focusing on finance, policy and economics for the same

sectors. The group also undertakes custom research on behalf of clients and runs senior-level networking events, including the

annual BNEF Summit, the premier event on the future of the energy industry.

For more information please visit about.bnef.com

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Energy Efficiency Trends Vol. 25

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Contact us

Ian Jeffries

[email protected]

+44 (0) 33 0313 8488

EEVS Insight Ltd

22 Long Acre

London

WC2E 9LY

Michael Kenefick

[email protected]

+44 (0) 20 3525 4144

Bloomberg L.P.

3 Queen Victoria Street

London

EC4N 4TQ

© EEVS insight Ltd. 2018. Developed in partnership with Bloomberg New Energy Finance

(Bloomberg Finance L.P. 2018). No portion of this document may be reproduced, scanned into an

electronic system, distributed, publicly displayed or used as the basis of derivative works without

the prior written consent of the joint partners.

For more information on terms of use, please contact [email protected].

Join the Energy Efficiency Trends Community

Register at http://www.eevs.co.uk/contactsurvey.html to join the Energy Efficiency Trends Community and receive free quarterly

Energy Efficiency Trends reports direct to your email inbox.

By registering you will also be invited to complete the quarterly surveys upon which the research is based. If you are a consumer,

financer or supplier of energy efficiency consultancy, products or services, your input would be greatly appreciated. Your

responses will be treated anonymously and aggregated to form the published Energy Efficiency Trends report.

To find out more about Energy Efficiency Trends, or to download previous editions please visit our website:

www.energyefficiencytrends.com

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