38 per cent expects to be generating their own renewable energy within five years, new research finds.

There is a growing level of interest among small to medium enterprises in generating renewable energy from their own businesses, with one third expecting to introduce solar panels, wind turbines or anaerobic digestion for example, and 38% expecting to be generating their own renewable energy within five years, new research finds.

Despite recent cuts in energy tariffs, and perhaps faced with finding new ways to generate income (42% highlight the revenue opportunity behind any decision), a large number of SME business leaders questioned in the Opus Energy survey expect to be generating renewable energy within the next five years, with younger business owners (aged 18-34) more likely to make the investment sooner.

The research also found that 42% of SMEs said they would switch to generating some or all of their own power from renewables if it could be proven that they would make money out of it.

Charlie Crossley Cooke, Managing Director, Opus Energy, said: "There’s real dynamism in the SME sector from people who are genuine entrepreneurs and we expect to see more examples of SMEs powering other businesses as well as their own. It’s an investment in their business’ future: a way to reducing overheads and to make savings on their energy costs."