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Residential Energy as a Service (EaaS) Market Size

Report ID: GMI9367
Published Date: May 2024
Report Format: PDF

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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.

Residential Energy as a Service Market

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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 (EaaS) Market Report Attributes
Report Attribute	Details
Base Year:	2023
Residential Energy as a Service (EaaS) Market Size in 2023:	USD 8.3 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	9.6%
2032 Value Projection:	USD 18.8 Billion
Historical Data for:	2021 – 2023
No. of Pages:	170
Tables, Charts & Figures:	110
Segments covered:	Type and Region
Growth Drivers:	Growing Demand for Renewable Energy Increasing Focus on sustainability Growing Government Initiatives and Incentives
Pitfalls & Challenges:	Solution Complexity Initial Cost Barrier

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Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of residential energy as a service was reached USD 8.3 billion in 2023 and is anticipated to grow at 9.6% CAGR from 2024 to 2032, due to rising preference for renewable energy sources and rapid advances in smart home technologies.

Residential energy as a service (EaaS) market from the operational and maintenance services is anticipated to exceed USD 8.6 billion by 2032 owing to their quick identification and prompt issue address feature for minimizing downtime and maximizing energy output.

North America residential EaaS industry size may surpass USD 5.9 billion by 2032, led by the growing emphasis on energy efficiency and sustainability, fueled by concerns about climate change, the rising energy costs, and the need to reduce reliance on fossil fuels.

Some of the prominent residential energy as a service companies include Ameresco, Budderfly, Bernhard Energy Solutions, Centrica Business Solutions, and Capstone Green Energy Corporation.