European customers’ spending on energy-as-a-service type products has risen a whopping 53% over the last year, compared to 46% in 2019.

That’s according to new research from research and consulting firm Delta-EE, which suggests that despite Covid-19, the new energy market in Europe is progressing faster than expected.

The study predicts a slower but steady customer spend growth of 32% annually in the next five years, with e-mobility expected to record the fastest growth rate.

According to the report, e-mobility saw a triple-digit year-on-year growth with the UK, Germany, France and Italy having the biggest growth in customer spend.

In previous research, Delta-EE predicted that an estimated 84 million electric vehicles (EVs) will be travelling on European streets by 2030. 

Alix Weil, New Energy Business Model Service Manager in Delta-EE, said: “Charging your EV inevitably increases your electricity bill and we see that as a motivating factor for the uptake of other new energy propositions, such as smart home management and charging propositions.

“From tech companies to utilities, e-mobility involves businesses across the whole supply chain and we expect such market growth to speed up the expansion of other sectors.”