Energy Services Companies are Poised for Growth as Demand for Clean Energy, Resiliency, and Outsourced Energy Management Solutions Rises
MONTREAL--(BUSINESS WIRE)--#decarbonization--A new report from Atlas Energy Intelligence analyzes the North American energy service company (ESCO) market to provide insights into the role that the ESCO model will play in the broader energy transition.
Since the 1970s, ESCOs across North America have provided a wide range of public and private sector customers with comprehensive, self-funding energy efficiency retrofit solutions, particularly in the federal and MUSH (municipalities, universities, schools, and healthcare) sectors. Today, these customers are driven by other priorities as well, such as carbon neutrality and resiliency, which ESCOs have responded to with solutions that integrate distributed energy technologies such as solar PV, energy storage batteries, and microgrids.
“While ESCOs have been operating in North America for decades, they are finding new applications in the current energy landscape given the adaptability of the ESPC model to new innovations in distributed energy,” said Eric Bloom, Managing Director, Atlas Energy Intelligence. “As the U.S. and Canada look to emerge from the COVID-19 pandemic by building cleaner and more resilient infrastructure, the ESCO model is well-positioned for growth.”
According to the report, The North American Energy Service Company (ESCO) Market, ESCO revenues will grow from $4.9 billion in 2021 to $6.5 billion in 2027 at a combined annual growth rate of 4.8%. The market forecasts provide detailed information on growth across all customer verticals (federal, local/state/provincial government, K-12 schools, higher education, healthcare, public housing, and commercial), and segments the market by service type (ESPC, design-build, and O&M services), with individual forecasts for the United States and Canada. An executive summary and table of contents for the report can be downloaded at the 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 - manufacturers, project developers and integrators, utilities, government agencies, and others - navigate the rapidly changing clean energy landscape. The company’s deep expertise in analyzing market developments for renewable energy, energy efficiency, intelligent grid technologies, smart cities, and other segments of the clean energy sector helps position customers for success in the ongoing energy transition.
Contacts
Eric Bloom, This email address is being protected from spambots. You need JavaScript enabled to view it., +1 (438) 797-5036
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