European Energy Service Company Revenue to Reach $18.4 Billion by 2016 http://bit.ly/f4N0fu
— Leonardo ENERGY (@LeonardoENERGY) March 8, 2011
The problem with energy savings (so-called ‘negawatts’), is that they are difficult to measure. Metering technology has improved significantly since 2011, but the problem of the construction of a solid baseline remains. Another challenge is that some investments into energy efficiency, especially in buildings, have long payback times, and both ESCOs and building operators may be reluctant to enter into such long-term contracts.
As a result, a 2017 report from JRC finds that the European ESCO market is falling somewhat short of expectations. The total EU market was estimated at €2.4 billion ESCO revenue in 2015, with a forecasted growth to €2.8 billion in 2024 at a 1.7% compound annual growth rate.