Manufacturers considering solar to beat rising energy prices

High tech manufacturers in the UK are considering investing in their own renewable power supplies, particularly solar, to shield themselves from future energy price increases.

A survey of over 400 senior executives in the UK high tech manufacturing sector by multinational GE revealed “high levels of concern” over future UK energy supply, with two thirds of respondents reporting “detrimental” effects on their business from a lack of clarity on energy policy.

The vast majority of survey respondents – 84% - said they were concerned over the future affordability of energy in the UK. Some three in five – 61% - expressed concern over the future security of energy supply in the UK.

As a consequence, almost half – 49% - are considering investing in on-site renewable energy generation or energy efficient technologies. Of this group, 61% said they were considering installing solar power at their business premises.

Nonetheless, according to GE’s bi-annual High Tech Index, which surveyed 405 manufacturers, the sector is “cautiously upbeat” about 2013, with 72% of respondents saying they felt “positive” about their company’s prospects this year, despite the continuing economic gloom.