Utility Energy Marketplace and Home Energy Reports Revenue Is Expected to Grow at a Compound Annual Growth Rate of Nearly 15% by 2030
Despite revenue growth projections, competition from online retailers and energy efficiency program cuts impede market development
A new report from Guidehouse Insights examines the global online energy marketplace landscape, including market drivers, barriers and revenue associated with utility online marketplaces and home energy reports (HERs) by region and customer segment through 2030.
As utilities improve the suite of tools used to provide energy efficient solutions to their residential and small business customers, sophisticated HERs support this effort with new means of customer engagement, digital self-service, rebate targeting, and other capabilities. The ongoing integration of utility marketplaces for services and products is concurrent with the inclusion of distributed energy resources (DER) into the product mix. According to a new report from Guidehouse Insights, utility energy marketplace revenue, in combination with revenue from HERs, is expected to grow to $1.9 billion by 2030, at a compound annual growth rate (CAGR) of 14.9%.
“After the coronavirus pandemic, the DER trend in particular is expected to accelerate, as is an increasing market opportunity in selling to small and medium business customers,” says Daniel Talero, research analyst with Guidehouse Insights. “Energy reports are enabling these new revenue streams by communicating more customized, accessible, and actionable data to potential buyers.”
Despite revenue increase, several barriers are impeding market growth, including energy efficiency program budget cuts caused in part by the COVID-19 pandemic. Competition on price, delivery, and overall customer experience from online retailers and search engine optimization is another factor hindering market growth, according to the report.
The report, Utility Marketplaces and Home Energy Reports, examines the global online energy marketplace landscape. The study provides an analysis of market issues including drivers and barriers associated with utility online marketplaces as well as HERs. Global market projections for marketplace and HER revenue are provided by region and customer segment through 2030. An executive summary of the report is available for free download on the Guidehouse Insights website.
*The information contained in this press release concerning the report, Utility Marketplaces and Home Energy Reports, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.