Residential Energy as a Service (EaaS) Market Size - By Type (Energy supply service, Operational and maintenance services, Energy efficiency and optimization services), Regional Outlook & Forecast, 2024 – 2032

Residential Energy as a Service Market Size

Residential Energy as a Service Market was valued USD 8.3 billion in 2023 and is anticipated to grow at a CAGR of 9.6% from 2024 to 2032. These energy related services and solutions are provided to homeowners on a subscription or pay as you go basis, rather than through traditional ownership models. Homeowners can choose from a variety of energy-efficient items, renewable energy sources, smart home technology, and energy management services in this market without having to make large upfront infrastructure or equipment purchases.
 

Growing adoption of sustainable energy sources and energy-efficient technologies across homeowners, to reduce their carbon footprint and lower their electricity bills will stimulate the service growth. Rapid technological advancements, particularly in IoT, artificial intelligence, and cloud computing, will enable real time monitoring, data analytics, and automation, will empower homeowners to manage their energy consumption effectively thereby augmenting the industry landscape. Furthermore, EaaS providers are offering customizable packages tailored to the specific needs and preferences of residential consumers, thereby fueling the product adoption.
 

Residential Energy as a Service Market Trends

Growing inclination toward decentralized energy systems driven by advancements in renewable energy technologies, energy storage solutions, and distributed generation will augment the market statistics. Ongoing proliferation of smart home technologies, including IoT devices, connected appliances, and home automation systems, is transforming residential energy management to optimize energy usage, improve comfort, and reduce cost thereby creating opportunities for the product penetration.
 

Improving awareness of environmental sustainability and rising energy costs leads to the growing demand for energy efficiency services among residential consumers, thereby creating tremendous opportunities for market growth. Rising traction of energy communities, where homeowners, businesses, and other stakeholders collaborate to share energy resources and optimize energy will fuel the growth trajectory. Additionally, evolving regulatory frameworks and policies aimed at promoting renewable energy adoption and energy efficiency will create favorable market conditions.
 

Residential Energy as a Service Market Analysis

Based on type, the operational and maintenance services is anticipated to rech USD 8.6 billion by 2032 owing to their quick identification and prompt issue address feature, thereby minimizing downtime and maximizing energy output. These services ensure long term reliability of residential energy systems including preventive tasks like panel cleaning and equipment inspections, proactively addressing issues, and safeguarding homeowners investments, thereby escalating the market outlook.
 

North America energy as a service market revenue to cross USD 5.9 billion by 2032. Growing emphasis on energy efficiency and sustainability, fueled by concerns about climate change, rising energy costs, and the need to reduce reliance on fossil fuels will stimulate the business landscape.  Rising government initiatives at the federal, state, and local levels are also playing a crucial role in driving the adoption of EaaS solutions. Homeowners increasing usage of smart thermostats, energy monitoring systems, and solar panels to optimize energy consumption, reduce waste, and enhance comfort will escalate the demand for these solutions.
 

The U.S. has shown significant market growth driven by increasing awareness of energy efficiency, coupled with rising utility costs, prompting homeowners to seek innovative solutions to optimize energy consumption and reduce expenses. Furthermore, growing adoption of remote monitoring and digital solutions, improving safety and convenience, will drive the market expansion.
 

Residential Energy as a Service Market Share

Eminent players are focusing on expanding their service portfolios including integrating renewable energy sources, smart home technologies, energy management platforms, and value added services to offer a comprehensive range of energy solutions tailored to the needs of residential consumers. Furthermore, to strengthen their market position and expand their reach, key players are forming strategic partnerships and acquiring complementary businesses. Leaders are also investing heavily in research and development to innovate new technologies and solutions including advancements in IoT, artificial intelligence, data analytics, and energy storage.
 

Residential Energy as a Service Market Companies

Eminent players operating in the residential energy as a service are:

• Ameresco
• Budderfly
• Bernhard Energy Solutions
• Centrica Business Solutions
• Capstone Green Energy Corporation
• ENGIE Impact
• Enel X
• GridX.Inc
• Honeywell International Inc
• Johnson Controls
• Jakson Group
• Siemens AG
• Schneider Electric
• WGL Energy
   

Residential Energy as a Service Industry News

• In April 2024, Huawei Digital Power, the solar energy arm of the multinational technology company, has teamed up with REVO Energia to introduce Energy as a Service (EaaS) in Brazil. The partnership aimed to boost the EaaS footprint in various sectors covering residential and commercial applications.
   
• In October 2021, BP and Infosys partnered to develop and pilot an Energy as a Service (EaaS) solution. This initiative aims to assist businesses in enhancing energy efficiency within their infrastructure and achieving their decarbonization objectives.
   

This residential energy as a service market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in “USD Billion” from 2021 to 2032, for the following segments:

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Market, By Type

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

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • UK
  • France
  • Denmark
• Asia Pacific
  • China
  • South Korea
  • India
  • Japan
  • Thailand
• Rest of World