Due to growing complexities in energy technologies, customers from different sectors namely: Commercial, Institutional, and Industrial are moving towards outsourcing the service. Resilience, sustainability, and decarburization are also encouraging customers to move out from in-house development. Customers have cited their limited ability to focus on non-core capital expenditure and reluctance to engage in long-term contracts, though they are seeking quick ROI. Hence the suppliers are developing Energy-as-a-service (EaaS) solutions and offering unique financing options to meet client demand.
Energy-as-a-service is an appealing proposition for customers across large, medium, and small businesses. Across all customer segments, an EaaS deal enables customers to transfer risk, simplify operations, and focus on their core business while meeting their efficiency, sustainability, or resilience goals. Through EaaS, customers can also redirect CAPEX resources to critical areas of operation and realize potential immediate cash flow and off-balance-sheet treatment of the transaction.
Read report summary or request a free sample copy of the report “Energy-as-a-service Market Procurement Intelligence, Supplier Intelligence, Supplier Ranking, Pricing & Cost Structure Intelligence, Best Practices, Engagement Model, Low & Best Cost Country, Day One Analysis Report, 2021 – 2027”
Demand Outlook
The global EaaS market was valued at USD 59.3 billion as of 2020 and is expected to grow at a CAGR of 8.9% over the forecasted period till 2027. An increase in Distributed Energy Resources (DER), tax benefits for energy efficiency projects, new revenue generation streams for utilities, and a decrease in the cost of renewable power generation and storage solutions are some of the factors driving the growth.
Europe is projected to remain as the largest regional segment for energy as a service, at a market share of 41.85% in 2028, owing to the presence of the intelligent building and building automation vendors in the utility and space. Key players in the region are inclined towards reducing costs for delivering services and enhancing the customer experience as per their needs. Asia Pacific is expected to witness the highest market growth due to the rise in large enterprises. For instance, in 2019, India had more than 300 proposed smart cities projects worth $2 billion.
Cost Drivers
The evolving energy landscape will become more complex as the cost to production comes down, the ability to generate makes a transition to micro levels, and products are serviced on digital platforms. End-users will opt for an aggregating agent to act as a single source point for all their energy-related needs. This will create opportunities for providers who can deliver a streamlined, cost-effective solution to clients, all for a fixed monthly payment.
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