Inefficient lighting risks £1.25bn retail loss

New research released by EnergyWorks has revealed that UK retailers risk wasting up to £1.25 billion each year through inefficient lighting in their stores.

Based on the average size of a shop on the UK High Street according to the British Retail Consortium and figures from The Carbon Trust, the findings have also revealed that the British retail industry is currently spending almost £8 billion a year on electricity bills.

 

While lighting accounts for one fifth of the electricity used in the UK, for retailers The Carbon Trust said it can be as much as 40% of their yearly electricity costs. Moreover a retailer’s average annual electricity bill per store can be as much as £27,240. This could be significantly reduced to £22,881.60, a saving of £4,358.40 a year, by switching to LED lighting.

 

Harvey Sinclair, a partner at EnergyWorks, commented: “The past decade has seen the High Street battle against increasingly challenging storms, and rising energy costs is just one element that retailers now have to face. However, by taking simple measures such as changing instore lighting and gaining a better understanding of their overall energy usage, retailers can dramatically reduce their annual outgoings therefore unlocking hidden profit.

 

“We understand that the prospect of switching to LEDs can be perceived by many as an expensive process. As a result we offer our clients a completely free of charge LED re-fit in return for a percentage of the electricity savings made over the contract period: typically up to 10 years. We hope that this new incentive will not only work as a financial support for many of our well-loved High Street stores but will also reduce the strain currently felt by the National Grid.”

 

EnergyWorks also provided its top tips to cut down on electricity bills:

 

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