In partnership with the RE-Source Platform, BayWa r.e. has published its Energy Report 2019 which analyses the attitudes of 1,200 European corporations towards renewable energy. While 89% of all those surveyed agreed on the leading role corporations must play in driving the energy transition, 76% identified bureaucracy and complex regulations as major barriers that are hindering further investment in renewables.
For the majority of corporations, the benefits were clear – almost 90% felt the use of renewables resulted in a better public image, while 80% felt it gave them a business advantage. And when deciding to invest in renewables, 92% did so to reduce energy costs.
However, a perception of long payback periods (44%) and high investment costs (38%) were identified as barriers by corporations across all surveyed countries. At just under 50%, the perception of investment costs as a barrier was highest in Poland and the UK.
While companies in Germany, the UK and France mainly focus on greenhouse gas emission targets, companies in Poland, Italy and Spain aim to increase the overall use of renewable energy.
Over half of all surveyed corporations were planning to use renewable energy or install their own renewable energy facilities within the next five years. Spanish corporations were particularly ambitious with 76% planning to increase their use of renewables, while Italian corporates recorded 70%.
Source: BayWa r.e.