MANILA, Philippines—More Philippine companies are now investing in energy management solutions, with 73 percent of the respondents saying that “cost savings” would be the biggest driver in pursuing such initiatives, a survey conducted by Schneider Electric Philippines showed.
“Companies that do not prioritize investment in energy management for the reason that it involves a substantial amount of capital are missing out on the higher long-term earnings potential for their businesses,” noted Philippe Reveilhac, country president of Schneider Electric Philippines.
The survey, which was conducted during the Schneider Electric Xperience Efficiency event in September 2013, polled 400 representatives from facilities management, engineering and finance departments of companies in various industries. The survey was meant to gather information on current and future plans for energy management and the challenges faced by the different organizations.
Survey results showed that funding remained the largest barrier to meeting energy efficiency goals in organizations, according to 39 percent of the respondents. Another hurdle, according to 32 percent of the respondents, was the perceived longer waiting period for return on investment due to the significant capital outlay needed for energy efficiency upgrades. This reportedly caused some of the companies to push aside investments in energy management in favor of other investment activities with quicker returns, such as increasing market share or expanding production.
Although some companies are hesitant to invest in energy management, Schneider Electric Philippines noted that the increase in the amount of data being produced and used by businesses, and the intention to reduce costs are some of the compelling reasons why many had chosen to continue to invest in energy management.
“The decision of several organizations to invest more in energy management opens up a lot of opportunities. Schneider Electric aims to explore these opportunities to further improve the energy solutions we provide and to help companies meet their energy efficiency and cost savings goal,” Reveilhac said.
According to the survey, 35 percent of the respondents reported that they will increase investment in energy management this year, while only 11 percent said their investment would be the same as in 2013. Only 9 percent said their investments would be less than last year’s level.
When asked what energy management approach would gain the most traction in the next five years, the respondents answered as follows: building automation (25 percent of respondents); efficient lighting (14 percent) and data center efficiency (12 percent).
A global specialist in energy management, Schneider Electric offers integrated solutions across multiple market segments, including utilities and infrastructure, industries and machine manufacturers, non-residential buildings, data centers and networks.