Energy big opportunity for South West care homes according to new report
Care homes across the South West could be missing out on opportunities to save money through renewable energy according to NatWest’s Care Home Benchmarking Report.
The report, released today (October 7), is the first to be produced by the bank’s specialist Healthcare team.
It looks to support SME care home businesses in identifying their performance in comparison to their peers, as well as potential ways to save money – or generate more.
NatWest relationship director Adam Hughes, who specialises in healthcare in Bristol, comments: “Energy stood out as the second most significant cost for care homes – behind staff.
“In the South West, where there’s typically more sunlight than in other areas of the UK, you might expect to see a significant take-up of solar power – yet this is used in very few homes.
“Given the high sun levels there is scope for a number of care homes to consider solar power as a way of cutting their long term energy costs and improving their profitability.”
According to results, less than 3% of homes are using solar energy while 87% relied on traditional gas.
The report assesses the performance of nearly 250 care homes across the South West of England, analysing data on fee rates and occupancy as well as energy spend, buildings and technology.
Adam added: “On the whole, the SME care home market is in good shape. Compared with corporate rivals, the quality of care is every bit as good. However, SMEs might struggle on cost-efficiency, long-term strategy and upgrading facilities owing to a lack of time and cash.”