A closer look at the report, however, reveals that investors might well have reason to be even more optimistic that the company can continue to grow for some time. For starters, EnerNOC has only begun to scratch the surface of the amount of potential energy that it can save commercial customers. For example, while the company indicated that it had signed up an additional 15 Fortune 500 companies (to bring its total to 32) in the quarter, that still leaves hundreds of other large customers that it could bring into its fold.
Secondly, as EnerNOC adds to the number of megawatts it has under management (today it's 756 megawatts), it will be able to increase the size and scope of the contracts it recently won with Southern California Edison and Pacific Gas and Electric
And therein lays the greatest opportunity for EnerNOC's continued growth. By reducing the amount of energy needed during peak times, EnerNOC can save utility companies across the country (and the world) from having to fire up older, inefficient, and, ultimately, more expensive power plants to meet peak demand.
To be sure, the company still faces stiff competition from others such as Honeywell
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EnerNOC is a five-star stock in Motley Fool CAPS, our free interactive stock community. However, it's a relative newbie with only 13 ratings. Yet 12 of the ratings -- including five from All-Stars -- say the company will outperform the S&P 500. Is that enough to get your engine running? Chime in with your thoughts today.