Confidence in the energy efficiency industry was up in the first quarter (Q1) of 2017 and looks to continue rising.
That’s according to a new report from Bloomberg New Energy Finance (BNEF), which suggests suppliers have seen increases in order-book growth, allied with increased consumer spending.
Q1 saw 80% of suppliers say order levels are either remaining stable or growing and this optimism carried forward to their strong predictions for future growth.
Although the sector’s view on government action has softened over the last six months it remains negative, with more than half of suppliers considering energy efficiency policy to be ineffective.
With regards to consumers, high efficiency lighting remains the lead technology and was incorporated into 70% of consumer investments.
The quarter also saw a sharp rise in smart metering and air conditioning technologies, whereas building energy management solutions and solar projects saw declines in uptake.
Consumer spending rose this quarter, with average project values edging to a new high of £260,000 per project, compared to £50,000-£100,000 when the survey began in 2012.
Customer payback expectations softened slightly, moving out towards four years and customer satisfaction results were strong.
All respondents were generally satisfied and no respondents said they had received an unsatisfactory or poor level of service from a UK supplier.