North America Residential Energy as a Service (EaaS) Market - By Type (Energy supply service, Operational and maintenance services, Energy efficiency and optimization services), 2024 – 2032

North America Residential Energy as a Service Market Size

North America Residential Energy as a Service Market size was valued USD 2.5 Billion in 2023 and is anticipated to grow at a CAGR of 10% from 2024 to 2032. It refers to service providers delivering comprehensive energy solutions to homeowners through long-term service agreements. This solution typically involves the installation, maintenance, and management of energy systems such as solar panels, batteries, geothermal heating and cooling, and energy-efficient appliances.
 

Rising adoption of services by homeowners which offer predictable monthly or annual energy costs, through fixed-rate contracts or subscription-based services is set to influence the industry growth. Increasing awareness of environmental issues and the benefits of energy efficiency is prompting homeowners to seek out sustainable energy solutions thereby boosting service demand.
 

Rising technological advancements particularly in smart home automation and energy management systems providing consumers with greater control over their energy consumption patterns and costs are propelling the business scenario. Growing adoption of flexible services which helps homeowners to choose from various service plans tailored to their specific energy needs and adjust them over time as their circumstances change is driving the market growth.
 

North America Residential Energy as a Service Market Trends

Growing government subsidies, regulatory frameworks, and incentives such as tax incentives for solar installations, rebates for energy-efficient upgrades, promoting renewable energy adoption thereby impacting the EaaS business. Rising homeowners shift towards convenient services handling typical installation, maintenance, and monitoring of energy systems, reducing the burden on owners are additional factors stimulating the industry landscape.
 

North America Residential EaaS Market Analysis

Based on type, the North America residential energy as a service market is segmented into energy supply services, operational and maintenance services and energy efficiency and optimization services. Energy supply services are anticipated to grow by over USD 2 Billion by 2032. Rising adoption of convenient and hassle-free management services by outsourcing the complexities of energy procurement and management to service providers leading to simplify homeowners energy management responsibilities while focusing on other priorities is boosting the business landscape. Furthermore, increasing environmental consciousness among consumers is driving demand for services that prioritize renewable energy sources such as solar, wind, or hydroelectric power thereby accelerating the market growth.
 

U.S. energy as a service market is anticipated to grow by over USD 5 Billion by 2032. Increasing federal and state-level incentives include tax credits for renewable energy installations, rebates for energy-efficient appliances and upgrades, and regulatory policies supporting net metering and renewable portfolio standards are fostering the product adoption. Growing severe weather events or grid instability in the U.S. is creating demand for backup power options, providing homeowners with a reliable source of electricity during power outages, enhancing energy security and resilience thereby augmenting the industry statistics.
 

Rising desire among homeowners for cost predictability and potential savings service which offer fixed-rate contracts that allow consumers to stabilize their energy costs, mitigating the impact of fluctuating utility rates and helping them budget more effectively over time thereby complementing the product penetration.
 

North America Residential Energy as a Service Market Share

Eminent players are expanding their service portfolios to cater to diverse consumer needs by including a range of EaaS options such as energy supply services, energy efficiency upgrades, smart home integrations, and renewable energy solutions. Furthermore, companies are investing in smart grid technologies, IoT-enabled devices, energy management software, and predictive analytics to enhance service capabilities. Many companies are aggressively expanding their geographic footprint within North America. This includes entering new states or regions, targeting underserved markets, and adapting services to local regulatory environments.
 

North America Residential Energy as a Service Market Companies

Eminent players operating in the North America Residential energy as a service (EaaS) industry are:

• Ameresco
• Budderfly
• Bernhard Energy Solutions
• Centrica Business Solutions
• DIF Capital Partners
• Enel X
• Enbridge Inc
• Honeywell International Inc
• Johnson Controls
• Siemens AG
• Schneider Electric
• WGL Energy
   

North America Residential Energy as a Service Industry News:

• In May 2023, DIF Capital Partners unveiled an agreement to acquire a majority stake in Diverso Energy Inc. Diverso specializes in providing geothermal heating and cooling solutions for multi-unit residential and commercial projects through an Energy-as-a-Service model with long-term contracts. This acquisition will support Diverso's expansion and help them manage their growing pipeline of geothermal projects in Canada.
   
• In December 2022, Enbridge Inc. has introduced Enbridge Sustain, a new energy-as-a-service (EaaS) business, providing clean energy solutions to homeowners, developers, and commercial customers in Ontario. The launch is a next step towards goal of achieving net-zero emissions by 2050.
   

North America Residential Energy as a Service market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in “USD Billion” from 2021 to 2032, for the following segments:

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Market, By Type, 2021 – 2032 (USD Billion)

• Energy supply service
• Operational and maintenance services
• Energy Efficiency and optimization services

The above information has been provided for the following countries:

• U.S.
• Canada
• Mexico