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Residential Energy as a Service (EaaS) Market Trends

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

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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.

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.