The sector of Energy Service Companies(ESCo) confirms itself as one of the main players in the energy transition Italian, with robust growth in both economic and technological terms. In 2023, the ESCos active in the country reached a total value of 16,2 billion euros, marking an increase of the turnover by 78% compared to 9,13 billion in 2020.
Growth was not limited to revenues: also margini operational and profitability are in strong expansion. The aggregate EBITDA went from 1,74 to 2,16 billion euros, while the overall net profit reached 700 million.
This is what emerges from the study “Energy Service Companies: present and future of a key sector for the energy transition”, carried out by act– economic-strategic research and consultancy centre – in collaboration with Siemens, and presented during the event “Energy Efficiency: strategy and technological approaches of Italian ESCos”, held at Casa Siemens, Milan.
ESCo turnover on the rise: specialized companies stand out
Although there are over 900 certified ESCos in Italy, the study focuses on a representative sample of 466 companies that operate with a core business oriented towards energy efficiency services. These companies cover the entire supply chain: from consultancy and design to the construction of systems, up to operational management and administrative assistance.
The report clearly distinguishes three evolutionary stagesin the growth path of the sector. Between 2014 and 2019, the sector recorded gradual but constant growth, with revenues between 5,3 and 6,4 billion euros. 2020 represented a period of slight contraction, caused by the impact of the Covid-19 pandemic, a blow absorbed mainly by the more structured companies. The real turning point, however, came between 2021 and 2023, when - also thanks to the push of public incentives – the sector has experienced a real boom: in just three years the overall turnover has increased by 78%, going from 9,13 to 16,2 billion euros.
An interesting dynamic emerges from the report among big players e specialists verticals. ESCos belonging to large energy groups or active in integrated services produce the largest share of turnover – 69% of the total – and represent 58% of the EBITDA. However, it is the specialized companies, often leaner and more focused, that stand out for profitability: with a lighter structure, they generate a full 49% of the overall profits.
Technology and procurement: the drivers of the future
The sector is facing a technological transformation significant. Technologies such as heat pumps, photovoltaic systems, electric charging stations, digital monitoring systems and intelligent energy management tools represent the new strategic assets.
In parallel, technological procurement also acquires a central role: the selection of suppliers and the ability to integrate advanced solutions become key elements to respond to an increasingly complex demand. The main tools used are public tenders, direct assignments and framework agreements, chosen based on the company structure and its membership in larger groups.
Comments
“Energy Service Companies are called upon to play an increasingly decisive role in building an efficient, resilient and low-emission energy system,” he declared. FRAME Menu, CEO of Agici – Our study clearly highlights how the sector has all the potential for solid and structural growth, provided that it can adapt to a context that is increasingly performance-oriented and less dependent on public incentives, for which there are still obstacles to overcome in terms of implementation. For the future, it will be essential to invest in efficiency, integrated technologies and advanced management models, so that ESCos can consolidate their role and make a lasting contribution to the objectives of decarbonisation and modernisation of the national energy system”.
“The study presented today highlights the crucial role of technology in ensuring quality and continuity in ESCo projects, a dynamic and fundamental sector in the energy transition,” declared Claudia Guenzi, head of smart infrastructure at Siemens Italia -. At Siemens, we are convinced that innovation in energy management, combined with the digitalization of industrial infrastructure, is essential to ensure competitiveness and sustainability in the long term. Therefore, we are committed to providing advanced solutions that respond to the growing demand for integration between energy and digital, facilitating the creation of more flexible and efficient systems. In a constantly changing scenario, Siemens offers cutting-edge technology, expertise and a strategic vision to support ESCos and their partners along a concrete and effective transition path”.
