Businesses told to look at green energy sources

Businesses have been told that they need to embrace renewable energy sources and efficiency practices.

According to the Annual Energy Statement from the Department of Energy and Climate Change, fossil fuels will be scarcer by 2050 and, with demand predicted to still be high, prices will rise even further.

The statement also pointed out that the UK’s own oil and gas sources will be depleted by then, meaning greater reliance on imports.

Andrew Charlesworth, journalist at BusinessGreen.com, explained why going green can be so important to businesses on a financial level.

He said: “You’ve always got to compare the greening of energy sources with what the alternative is.

“If the alternative is sticking with fossils, then you have to make assumptions in your model about where those fossil energy prices are going to go. Pretty much every analyst and commodity dealer says that they are going to be going up.”

He also pointed out that businesses could make savings by investing in energy conservation and insulation.

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