Ameresco, Enel X, and Engie are leaders in the energy-as-a-service (EaaS) space, according to a new assessment from Guidehouse Insights. As organizations in the commercial and industrial space increasingly prioritize sustainability, these three companies are best positioned to address customer needs for technology expertise and advisory services, Guidehouse Insights says.
Companies in C&I segments, facing growing stakeholder pressure and investor requirements to demonstrate alignment with Paris Agreement goals, are increasingly setting ambitious carbon targets. These companies — as well as municipalities, universities, schools and hospitals — are looking for partners to help them meet these goals by transferring risk and including guarantees in the contract, simplifying operations, and ensuring a comprehensive and flexible technology. Specifically, the financing element of EaaS, which focuses on OPEX-based payments rather than the use of CAPEX or debt, has been emerging as a critical value proposition of EaaS in a time of financial uncertainty and reluctance to take on debt for non-core elements of business.
A Shifting Marketplace
In the past two years, players in the market have made significant strides in developing and executing EaaS solutions, expanding into new geographic markets and customer verticals and developing new business models such as white-labeled EaaS platforms. The young market is still characterized by low adoption rates and high differentiation between different players. Traditional energy service companies (ESCOs), utilities, EaaS financing and platform providers, and other types of players offering EaaS solutions all participate in the market, serving different customer segments with a variety of technology solutions, Guidehouse Insights says. While the report names the top players in the field, it also points out that the relative position of different vendors is likely to shift as contenders refine their solution offerings and take on the leaders.
Following the leaders mentioned above, Guidehouse Insights identifies seven “contenders.” These include:
These companies have developed well-rounded EaaS solutions and are positioned to evolve their market offerings to further align with market needs and take on Leaders in the market.
The four “challengers” identified in this report include:
These are still developing their EaaS offerings and scaling operations but are well-positioned to move up in the rankings based on their technology stack and brand recognition, according to the report.