The market size of the global food service restaurant industry was valued at ~ $1.2 trillion USD in 2020, and is expected to reach ~ $1.7 trillion by 20271 . Energy costs are always a major concern in the restaurant industry. The ongoing, robust use of energy-intensive, commercial kitchen appliances is hard on the electric bill. In fact, restaurants consume three times more energy per square foot than other commercial enterprises according to the U.S. Energy Information Administration2. Specialized equipment and extensive hours of operation, as well as high demand, cause excessive energy usage and sometimes even wasteful practices.
In the fast-changing dynamics of the restaurant industry today, the mission of food service entrepreneurs is going through a significant transformation. Not only is there more pressure than ever to deliver a high-quality consistent product in a hospitable and attentive atmosphere, but operators have also begun to realize they have a greater responsibility to give back to their local community and become proactive stewards of our environment. QSR as a segment is expected and has realized the importance of paying attention to the environment and implementing efficient energy management solutions to ensure the sustainability and brand value of its business.
This document provides a high-level view of how the QSR industry can benefit from the adoption of Racanaa Energy’s services to digitize their energy consumption and supply.