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Europe Residential Energy as a Service (EaaS) Market Size

Report ID: GMI9503
Published Date: May 2024
Report Format: PDF

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Europe Residential Energy as a Service Market Size

Europe Residential Energy as a Service Market Size was valued USD 2.3 billion in 2023 and is anticipated to grow at a CAGR of 9.7% between 2024 and 2032. These are energy services provided to residential customers on a subscription or pay per use basis, rather than through traditional ownership of energy assets. The service offers homeowners or tenants access to energy efficient technologies, without the need for upfront investment or ownership of the equipment.

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Escalating energy prices in Europe and ambitious energy transition targets and sustainability goals including the reduction of greenhouse gas emissions and the promotion of renewable energy is creating growth prospects for advanced solutions. Rising advancements in energy technologies, including solar PV, battery storage, smart meters, and energy management systems, are making solutions more accessible, reliable, and cost-effective for residential customers, thereby accelerating the product penetration. Shifting focus of homeowners towards energy solutions that offer greater control over energy consumption, real time monitoring, and personalized energy management options will create a positive business outlook.

Europe Residential Energy as a Service Market Report Attributes
Report Attribute	Details
Base Year:	2023
Europe Residential Energy as a Service Market Size in 2023:	USD 2.3 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	9.7%
2032 Value Projection:	USD 5.3 Billion
Historical Data for:	2021 - 2023
No. of Pages:	90
Tables, Charts & Figures:	20
Segments covered:	Type and Country
Growth Drivers:	Rising demand for renewable energy Shift Towards Decentralized Energy Systems Increasing energy transition and sustainability goals
Pitfalls & Challenges:	Initial Investment Costs

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Growing emphasis on promoting energy efficiency and sustainability in residential applications to reduce carbon emissions, enhance environmental conditions, and align with regulatory mandates and climate goals is augmenting the industry outlook. The shift towards decentralized energy systems, driven by increasing consumer demand for energy independence, resilience, and grid flexibility is anticipated to boost the product adoption in the forecast period.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

Europe residential energy as a service (EaaS) industry size was worth USD 2.3 billion in 2023 and will grow at a 9.7% CAGR between 2024 and 2032, driven by the increasing awareness and adoption of sustainable energy solutions, the convenience of outsourcing energy management and the potential for long-term cost savings.

The operational and maintenance services segment will surpass USD 2.4 billion by 2032, primarily due to the increasing complexity of energy systems and the need for hassle-free management.

France residential energy as a service (EaaS) industry will exceed USD 0.4 billion by 2032, propelled by its strong commitment to renewable energy transition and ambitious sustainability targets.

Some of the key Europe residential energy as a service market players are Edison Energy, ENGIE Impact, GridX.Inc, Honeywell International Inc, Johnson Controls, Schneider Electric, Siemens AG, and WGL Energy, among others.