Energy as a Service Market

Schneider Electric (France) and ENGIE (France) are the Key Players in the Energy as a Service Market

The global energy as a service market is projected to reach USD 86.9 billion by 2024 from an estimated USD 52.0 billion in 2019, at a CAGR of 10.8%. The growth of this market is driven by the new revenue generating streams for utilities, increased distributed energy resources, decreasing cost of renewable power generation and storage solutions, and availability of federal and state tax benefits for energy efficiency projects.

The global energy as a service market is dominated by a few major players that have an extensive regional presence. The leading players in the energy as a service market are Schneider Electric (France), Engie (France), Siemens (Germany), Honeywell (US), Veolia (France), Enel X (Italy), and EDF Renewable Energy (California).

The major strategies adopted by the players are contracts & agreements, and partnerships & collaboration. Contracts & agreements was the most commonly adopted strategy from August 2016 to April 2019. These industry players also adopted partnerships as a major strategy during the period.

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Schneider Electric (France) is an energy management and automation solution provider. The company holds expertise in power equipment offerings and energy services and operates the business through primary divisions, including medium voltage, low voltage, industrial automation, and secure power. Schneider Electric has integrated all its products and services with the IoT-enabled system architecture and platform EcoStructure. It also provides various services that include energy as a service, energy and sustainability service, facility services, field and automation services, and training. As energy as a service, the company helps its customers solve energy efficiency and energy resilience issues. The company provides microgrid solutions for the same to make electricity grid independent for its customers. The company offers energy as a service through programs for energy management. These programs help the clients for the following solutions, namely, peak shaving or demand response, load shifting, distributed energy resources, energy storage, and microgrids. Schneider Electric Energy & Sustainability Services (ESS) worked closely with BlueScope Steel to identify a longer-term renewable PPA as a strategy to reduce cost in the short term and decrease volatility over a longer term. Schneider Electric ESS has been long committed to helping businesses benefit from adopting low-cost renewable energy sources through PPAs and other projects.

ENGIE (France) is a French electric utility company, which is in the fields of electricity generation and distribution, natural gas, and energy services. The company operates its business through 8 segments, namely, North America, Latin America, Africa/Asia, Benelux, France, Europe, excluding France and Benelux, Infrastructures Europe, and Global Energy Management (GEM). The others segment includes activities in Generation Europe, Tractebel, and GTT (Gaztransport & Technigaz). The company offers energy as a service to its customers through its subsidiary ENGIE MEP. ENGIE MEP is a North American subsidiary of ENGIE, with over 3,500 employees and offers multi-point energy, Mechanical Electrical & Plumbing (MEP) & HVAC solutions from a single source. The subsidiary offers energy services for energy efficiency, energy cost savings, project financing, and distribution energy resources. The end-user sectors served by ENGIE MEP for energy as a service business model are mainly industrial, public, and commercial. ENGIE MEP has regional footprints in the US, Canada, and Mexico. Engie was awarded an energy efficiency performance contract by UAC Berhad, a Malaysian manufacturing company, to improve energy efficiency by more than 18% electricity costs savings, up to 520 ton of CO2 per year. The agreement was signed to improve the energy efficiency of the compressed air system at UAC. ENGIE intends to strengthen its capabilities for energy as a service.

Related Reports:

Energy as a Service Market by Services Type (Energy Supply Services, Operational and Maintenance Services, and Energy Efficiency and Optimization Services) End-User (Commercial and Industrial), and Region – Global Forecast to 2024

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Report Code
EP 6429
RI Published ON
5/31/2019
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