Retailer energy strategy in the new year is centred on reducing energy bills, but 29% are prioritising carbon reduction in energy usage.
That is a key finding from new research published by utilities provider SEFE Energy, which quizzed energy decision makers across multiple sectors.
Some 53% of retail and hospitality companies questioned for the study said they are aiming to reduce their energy costs. When asked about their energy goals for this year, energy consumption (46%) and carbon emissions (29%) were the other top cited objectives for UK retail and hospitality companies.
The survey points to an interest in the use of artificial intelligence (AI) in energy management, as three in ten retail companies say they want to improve their understanding of energy consumption through data analytics, while 54% say they want to adopt AI-powered energy solutions in the 12 months ahead.
When asked about external impacts on their business, rising energy costs were the top cited concern among retail and hospitality companies surveyed (47%), trumping other issues such as the rising cost of labour (32%) and broader economic downturn (31%).
While energy costs are a key concern for retail companies, only 27% of those surveyed say they have implemented energy-saving policies this year, such as load shifting, data monitoring, or turning off equipment when unused. Some 70% indicated they they would benefit from more advice on how to improve energy efficiency.
Olufemi Obudu from SEFE Energy said: “In a challenging economic environment, it’s understandable that energy costs are weighing on retail and hospitality companies, when there are so many demands on their budgets.
“Making small changes to improve energy efficiency can help lower energy bills. As a first step, concerned companies should ask their supplier for insight into their energy consumption patterns and habits.”
Obudu added: “By looking at the data, companies can better understand their energy usage and identify opportunities for savings.”
Earlier this month, Trane Technologies and Amazon announced an energy efficiency improvement and decarbonisation story related to the latter’s real estate in the US.
A project, powered by Trane Technologies through BrainBox AI, in conjunction with Amazon’s AWS cloud computing arm, involved using AI in three pilot Amazon grocery fulfilment facilities in North America. Energy reduction of 15% was achieved – more than double the original project targets. BrainBox AI autonomously optimises heating, ventilation, and air conditioning systems, reducing energy consumption, carbon emissions, and operational costs.
Further deployment is planned for the remaining Amazon grocery fulfilment and distribution centres across more than 30 sites in the US.
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