Market expands to all customer classes, driven by growing interest in decarbonization and resilience
MONTREAL, April 14, 2022 /PRNewswire/ – A report from a research firm Atlas Energy Intelligence in the North American Energy Services Company (ESCO) market underscores the importance of funded energy solutions in organizations’ ESG strategies and decarbonization initiatives.
Using financing structures such as Energy Savings Performance Contracts (ESPCs), ESCOs have enabled public and private sector organizations to harness the value hidden in their own facilities to pay for needed infrastructure improvements for decades. In recent years, the ESCO model has expanded to include renewable distributed energy resources (DERs) such as solar PV, energy storage batteries, and microgrids that enable asset owners to reach net zero and protect their assets from grid failures.
“In recent years, interest in the ESPC model has surged again as organizations turn to ESCOs to address delayed maintenance challenges and increase their renewable energy use without using their own capital or taxpayers’ money,” he said Eric Bloom, Managing Director, Atlas Energy Intelligence. “Looking ahead, we see Major also pursuing adjacent models such as Energy-as-a-Service (EaaS) to help clients finance clean energy infrastructure and improve their scores on ESG metrics.”
The report, The North American Energy Service Company (ESCO) market.predicts ESCO revenue rising from $4.9 billion in 2021 to $6.5 billion in 2027 at a combined annual growth rate of 4.8%. The report provides detailed information on all customer verticals and segments the market by service type (ESPC, design-build and O&M services) with individual forecasts for The United States and Canada. It also includes detailed analysis and market share data for the top North American ESCOs including Ameresco, Energy Systems Group, Engie, Honeywell, Johnson Controls, McKinstry, NORESCO, Schneider Electric, Siemens and Trane. An executive summary and table of contents of the report can be downloaded from Atlas Energy Intelligence website.
About Atlas Energy Intelligence
Atlas Energy Intelligence is a market research and strategy consulting firm that helps all types of organizations navigate the rapidly changing clean energy landscape. The company’s deep expertise in analyzing market developments for renewable energy, energy efficiency, smart grid technologies, smart cities and other segments of the clean energy sector helps position clients for success in the ongoing energy transition.
SOURCE Atlas Energy Intelligence