Dallas, Texas, Oct. 12, 2022 (GLOBE NEWSWIRE) -- The global energy as a service market is anticipated to expand as a result of an increasing emphasis on renewable and non-renewable energy sources, which mostly promote renewable energy because of its lower costs, smaller carbon footprint, environmental friendliness, and increased energy efficiency. Due to increased government spending on promoting renewable energy sources, the market is anticipated to grow throughout the forecast period. Reduced costs of renewable power generating and storing technologies, increased usage of distributed energy resources (DER), tax incentives for energy efficiency projects, new revenue streams for utilities, and other factors are all contributing to the expansion. In addition to price volatility and increased energy use, the market is impacted by the expanding potential of renewable energy. The global energy as a service market size was estimated at USD 63.4 billion in 2021 and is expected to hit around USD 139.87 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 9.87% from 2022 to 2030.
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A positive effect on growth is anticipated as businesses have gradually started to look for renewable energy sources. Lack of this competence among technicians or electricians is another element that could function as a barrier in the development of the global energy as a service market throughout the assessment period because putting up smart grid systems requires a person with specialized knowledge and experience.
Report coverage & details:
| Base Year | 2022 |
| Historical Data | 2020-2021 |
| Market Size in 2030 | USD 139.87 billion |
| CAGR | CAGR of 9.87% during 2022-2030 |
| Segment Covered | by Services, By End User, Regions |
| Regions Covered | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Key Players Profiled | Engie, Johnson Controls, Edison Energy, Orsted, Siemens AG, General Electric (GE), Honeywell Inc., Schneider Electric, Bernhard Energy Solutions, EDF Renewable Energy |
Energy as a Service (EAAS) is a newly developed idea that involves managing various energy portfolios, energy supply, energy use, programme management, asset management, and other related activities. It is now in its infancy in developing nations. The energy as a service industry has the potential to grow to encompass a large user base and to propel and power its adoption in every industry. The majority of energy and service providers are working with outside vendors and possible competitors in an effort to get additional customers. To increase the rate of EAAS adoption, governments in many developed and developing nations are creating and enforcing regulatory laws.
According to service type, it is anticipated that the energy supply services category will hold the largest share of the market. In light of the rising cost of energy, consumers are searching for a reliable energy source that would enable them to operate independently of the grid. Renewable energy is primarily supported by the energy as a service model since it decreases energy costs, minimizes carbon emissions, guarantees high energy efficiency, and is environmentally beneficial.
The EaaS market in North America was anticipated to account for the largest share over the forecasted period. The region's consumers want to buy reliable, affordable, and clean energy. For a variety of items, from efficiency upgrades to their complete energy package, businesses are increasingly seeking to pay a fixed payment price. Due to the expanding trend in the power sector for energy as a service, private utility models have emerged. For instance, utilities permit clients to essentially create their own resource mix under a long-term energy services agreement while also guaranteeing no interruptions.
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Ameresco and Northwestern University agreed to a long-term energy as a service (EaaS) agreement in July 2022. With no upfront money needed, the alliance will assist the school in addressing its energy-related deferred maintenance issues and furthering its academic and sustainable goals.
Table of Contents:
1. Introduction
2. Research Methodology
3. Market Outlook
4. Competitive Landscape
5. by Services, 2022-2030 (USD Million)
• Optimization
• Efficiency Services
• Energy Supply Services
• Maintenance
• Support Services
6. by End User, 2022-2030 (USD Million)
• Commercial
• Industrial
7. Regional Overview, 2022-2030 (USD Million)
8. Company Profiles
9. Appendix
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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