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The Energy as a Service Market size is estimated to grow at a CAGR of around 10.3% during the forecast period, i.e., 2023-28.
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Many countries worldwide, such as the US, the UK, India, etc., are actively promoting & implementing plans to retrofit buildings for various reasons, including energy efficiency, environmental sustainability, and reducing carbon emissions. Retrofitting involves the replacement of older energy appliances & solutions with newer, more energy-efficient models. Therefore, upgrading or modifying existing systems to improve their performance, efficiency, and functionality to minimize electricity consumption & comply with environmental regulations would provide an opportunity for the requirement for Energy as a Service. For instance:
In 2023, the US GSA Administrator announced over USD40 million in funds to boost the building’s efficiency in the Texas and Louisiana region. The investments are estimated to save about USD 1.4 million per year at today’s energy prices and reduce emissions by about 6,000 metric tons per year.
Moreover, environmental regulations & sustainability initiatives implemented by the government of countries like Saudi Arabia, the UAE, etc., to reduce energy consumption & carbon emissions & promote renewable energy would also surge the demand for EaaS in retrofitting projects.
The report has segmented the market into the following categories:
By Type
-Energy Supply Services
-Operational and Maintenance Services
-Energy Efficiency and Optimization Services
By End Users
-Residential
-Commercial
-Industrial
-Public Infrastructure
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Market Divided by Region/Country:
By Region
-North America
-South America
-Europe
-The Middle East and Africa
-Asia-Pacific
Engie, Enel X, Schneider Electric, Ameresco, Siemens, General Electric, Honeywell, Johnson Controls, EDF Renewable Energy, Edison, Alpiq, Veolia, Orsted and Others
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