Each year, organisations across the nation look for the best ways to manage the costs of business utilities. Part of their reviews will include researching the latest trends in the utility world so that they can stay ahead of the curve and incorporate fundamental and beneficial changes into their business processes. To help assist the companies looking at reviewing, adapting or changing their business utilities, we’ve taken a look at some of the trends that will shape the next year and major themes that organisations should look out for over the course of 2018.
Smarter Businesses with the Assistance of AI
We already began to see the start of big leaps in innovation at the latter end of last year, and the progression is only set to develop over the course of 2018. AI will have a huge impact on how energy companies address the market and the services they provide, allowing businesses to make smarter decisions when it comes to their utilities with their assistance. But companies don’t have to rely on their energy providers alone, as programmes will be readily accessible for businesses looking to monitor their utilities and figure out the key areas that are affecting cost and sustainability. It is, therefore, easy to predict that more and more businesses over the next year will be using technology to monitor their energy consumption and performance, which will allow them to identify the areas where they can achieve better results and save more money in the process. As the technology advances, so will the abilities of the organisations that decide to utilise it.
Renewables and the Green Brexit
As we previously reported, renewables thrived in the UK over 2017 and with all eyes on greener businesses, the limelight will be well and truly focused on renewables again over the following year. It is even predicted that over the next ten years, the global capacity of renewables is set to double its current rate. As the renewable market develops, so will the technology around it to monitor their operations and maintenance costs, and like a mutually-beneficial cycle, smarter technology allows for the advances in renewable energy sources. 2018 will bring exciting leaps forward for this energy source as technology works to advance its capabilities and utilisation within business processes.
Asian countries are the leaders in the development and implementation of renewables, with China accounting for over 40% of the capacity growth in 2016 alone. Their boom in the utilisation of renewables was seen as a huge encouragement to other countries to focus on their own renewable energy sources for fear of being left behind in this area. 2017 saw Britain make great leaps in the implementation of renewable energy sources, with a record-breaking output level of 19.2GW in March of that year; this was the highest output level to date in the nation. Whilst by May 2017, solar power reached new heights by accounting for a quarter of Britain’s energy supply. Results such as these highlights a shift towards decarbonisation, which will play a vital role in many global organisations as efforts go to reduce our impact on climate change.
UK businesses are now open to opportunities to develop their business models and start exploring new and more eco-friendly ventures-something which will be essential for all businesses to look into over 2018 as the nation (and Brexit in particular) focuses on greener business operations. Climate Change Acts, the Clean Growth Strategy and the decarbonisation of power will all be inclusive of the Brexit terms going forward, so it is vital that organisations continue to future-proof their businesses in relation to environmental policy. This month alone saw the government announce their plastic-free Britain by 2042, so it will not be long until over areas of environmentally-damaging areas of business practice are put into the firing line.
It is not only adhering to the policy that serves businesses well, keeping on top of environmental matters in 2018 will impress your customers as they become more eco-conscious in the new year also. The Mintel’s Europe: Consumer Trends report 2018 indicates that consumers are more likely to buy from companies that they believe are committed to the preservation of the environment, with a direct correlation noted between green businesses and their potential business growth.
It is clear that 2018 will see huge leaps in renewable activity that will shape the offerings and trends of the energy market. It is still too early to see how the broad trends identified above will play out but it’s sure they will be key themes for the year ahead, and areas that need to be considered in all organisations. To discuss your current utility processes and the areas where your business can develop to keep up with the advances of the future, get in touch with our experts today. Our analysts have years of experience in the field and will be able to identify ways to improve and advance your business as the nation, and the globe for that matter, look towards greener ways of operating and conducting business.
Article by: Richard Clayton