2023 North American Energy-as-a-Service (EaaS) Market

The North American Energy as a Service (EaaS) Market, valued at USD 617.1 million in 2023, is experiencing an unprecedented boom, projected to expand at a double digit growth rate of over 10% CAGR from 2023 to 2030. This impressive growth trajectory is primarily fueled by a confluence of factors, including a surge in data center construction, increased adoption of renewable energy sources, aging power infrastructure, and a supportive regulatory environment. The market is witnessing a transformative shift driven by the rise of decentralized power generation, energy storage technologies, and the prevalence of smart devices. These advancements have ushered in a new era of innovative business models in the energy sector, with digitalization and smart meter usage playing a pivotal role in enabling extensive data collection and analysis, thereby facilitating automation and the development of cutting-edge energy services.

Despite these advancements, the EaaS market is still in its infancy and encounters hurdles in market adoption due to perceived high levels of customization and project complexity, along with intricate regulations governing participation in wholesale electricity markets. Nevertheless, the evolving competitive landscape, marked by the emergence of new players in the energy service market, suggests a dynamic growth potential and opportunities for innovative, tailor-made energy solutions. As the EaaS market progresses, increased involvement in the wholesale electricity market is anticipated to fuel market expansion by providing microgrids with greater opportunities to generate revenue, streamline costs, and bolster grid stability.

The North American Energy as a Service (EaaS) Market is segmented based on application, service model, fuel type, and end user. Among these segments, the commercial sector - encompassing industries such as food and beverage, warehousing, and retail - held a significant 34% share of the market in 2023. This substantial share underscores the sector's critical need for consistent and reliable energy solutions, essential for various operations ranging from food preservation to extensive distribution networks. It is expected that the commercial sector, alongside data centers, will increasingly adopt EaaS as a strategy to manage energy expenses, ensure reliability, and enhance sustainability.

In terms of fuel type, natural gas takes the lead, followed by diesel and renewables, with natural gas generators primarily employed for energy cost optimization. Notably, Combined Heat and Power (CHP) microgrids constitute over 10.0% of the sector, primarily serving commercial and institutional areas with baseload power and heat.

Key companies highlighted in this report include Enchanted Rock LLC, PowerSecure International, Inc., Mesa Natural Gas Solutions, LLC, AEP Onsite Partners, LLC, Schneider Electric SE, RePower, LLC, Bloom Energy Corp., Power Utilities, Capstone Green Energy, and others. This report offers a comprehensive analysis of the overall North American Energy as a Service (EaaS) Market, capturing various market dynamics such as growth drivers, constraints, market revenues, forecasts, technological trends, and competitive landscape assessments.

Report Scope

This North American Energy-as-a-Service (EaaS) market research report includes market size, growth rates, end user split, competitive market share data and revenue forecasts from 2023-2030 for the United States and Canada. The study is a comprehensive analysis including market share splits by fuel type (diesel, natural gas, CHP, renewable energy, BESS, and others), application (prime power, resiliency, energy cost optimization, renewable energy integration) end user group (commercial, manufacturing, data centers, oil & gas, water facilities, and others) and service model (subscription-based, usage-based, shared savings agreement). Furthermore, market shares of key companies, growth drivers, restraints, challenges, and quotations from industry participants are also included in this analysis of the EaaS opportunity.

This study aims to provide a detailed analysis of the North American Energy-as-a-Service Market along with qualitative trends for the year 2023. The market numbers included in this report represent revenues generated by companies operating in the EaaS Market in the United States and Canada. The base year for the study is 2023 and the forecast period is from 2023 until 2030.

Energy-as-a-Service (EaaS) is defined as a business model where energy service providers deliver electricity generation solutions to end users without the requirement for the customer to make capital investments in energy infrastructure. The scope of this study delves into EaaS with a focus on energy generation, emphasizing how Distributed Energy Resources (DERs) and microgrids are employed to cater to customer requirements for resilience, baseload power, and/or cost optimization. Customers have the option to engage in a fixed fee arrangement for enhanced resilience or pay per unit of energy consumed. This model leverages various Distributed Energy Resources (DERs) and microgrids managed by service providers to ensure a reliable power supply, thereby eliminating the need for customers to invest in or manage energy infrastructure.

The EaaS market accommodates a diverse array of participants, including Energy Service Providers (ESP), utilities, industrial corporations, technology enterprises, specialized renewable energy providers, and telecommunications companies. ESP are companies that design, install, and provide all the necessary equipment, funding, operation, monitoring, and maintenance of power systems.

This study captures the following information on the North American Energy-as-a-Service Market:

• Market Size, Growth Rate, Revenue Forecasts (2023-2030)
• Growth Drivers & Restraints
• Market Data
• Quotes by Key Industry Participants
• Market Share Analysis
• Market Trends