Aug. 6, 2008 - Is five years too long to wait for your energy-efficiency upgrades to pay off? Ninety-five percent of U.K. businesses think so, according to a new survey (via BusinessGreen).

The survey, by consultancy EnergyTeam, found that the current spike in energy costs is souring companies on investing in energy projects that carry more than a three-year return. Yet green investment projects that have longer return periods often lead to larger and more sustained payoffs.

The study credits a general lack of awareness on energy-efficiency tax breaks for longer-term energy projects such as CHP (combined heat and power), smart building-management systems, and solar installations.

“Most firms are still uninformed about the scale of the long-term cost savings that new energy-saving technologies could offer,” says Brian Rickerby, joint managing director at EnergyTeam.

The study suggests companies with a robust vision for environmental savings will find investing in technologies easier. “Companies should develop an energy strategy and implement clear energy measurement policies to make it easier to justify long-term investments,” Rickerby says.

Not all firms have their head in the sand, however. In May, Dow Chemical announced it had recouped its ten-year, $1 billion energy-efficiency investment five times over thanks to lower utility costs and new revenues from green products.