Energy efficiency can reduce bills by 18-25% with an average payback of less than 1.5 years.
That’s according to a report by the Federation of Small Businesses (FSB).
It also states 31% of FSB members said energy costs were a barrier to growth and 90% of them want to be energy efficient but only a fifth have been offered advice on how to be.
The report adds 45% of small businesses say rented premises prevent further efficiency and 61% of small businesses say enhanced tax relief would encourage energy efficiency.
It went on to say more than half of small businesses “are motivated by environmental protection”.
The report states smart meters “are critical for helping small firms take control of their energy use and reduce costs”.
Energy companies must roll out smart meters for all homes and small businesses by 2019.
A recent report by DECC showed nearly eight out of 10 smart meter customers have taken steps to reduce their energy use.