According to study, “Global Energy as a service Market Size study, by Type (power generation services, energy efficiency and optimization services and operational and maintenance services), End-user (commercial and industrial) and Regional Forecasts 2018-2025” the key companies operating in the global energy-as-a-service market are Edison Energy, Bernhard Energy Solutions, WGL Energy Services, Contemporary Energy Solutions, Engie, EDF Renewable Energy, Enel X, Smartwatt, Orsted, Solarus. The key companies are focusing on penetrating geographies to expand their reach & gain new clients with greater partner networks. Additionally, companies are also increasingly want to pay a fixed subscription fee for various range of products, from efficiency upgrades to the entire energy package.
Energy as a service or EaaS is termed as management of one or more aspects of a customer’s energy portfolio including strategy, energy supply, program management, energy use, and asset management by applying new services, financing instruments, products, and technology solutions. It consists of utility services companies, third-party vendors, and potential business model disruptors deploying niche financing, technical, or procurement solutions like solar PV power purchase agreements, deregulated electricity market retail brokerage services and energy services performance contracts.
Based on type, energy-as-a-service market is segmented into energy storage, energy saving and energy creation. Based on service type, market is segmented into generation, optimization & efficiency, operation & maintenance, and others. Energy optimization & efficiency service segment includes an identification of energy saving potential and optimization of existing construction energy services. In addition, based on end-use industry, market is segmented into commercial sector, industrial sector and others. Industrial segment is expected to witness fastest growth rate owing to rise in de-carbonization & energy efficiency standards during the forecast period.
The energy-as-a-service market is driven by growth in new revenue generation streams for utilities, followed by decrease in cost of renewable power generation & storage solutions, growth in advancement in grid infrastructure, increase in need to provide clean & highly efficient energy, rapid development in technologies, rise in availability of federal & state tax benefits for energy-efficiency project and increase in distributed energy resources. However, dominance of existing centralized utility models and integration & deployment challenges may impact the market. Moreover, increase in use of energy-efficiency technology and deeper operational & maintenance savings are key opportunities for market.
Based on geography, the North-America is a leading region in energy-as-a-service market owing to growth in standards & rise in initiatives by governments, increase in energy consumption & price volatility, growth in potential of renewable energy and increase in number of smart communities, smart cities, and rise in demand for energy in industrial & commercial needs in the region. The Asian-Pacific and European regions are likely to witness higher growth rate due to growth in demand from power and oil & gas industries over the forecast period. In upcoming years, it is expected that the future of the market will be optimistic as a result of presence of a large number of energy service providing organizations during the forecast period. It is estimated that the market will be reached at US $19,607.8 million by 2025.
For more information on the research report, refer to below link:
Global Energy as a service Market
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