At the present stage of world economic development, great attention is paid to ensuring sustainable development, including the low energy intensity of industrialized economies. In view of this, the various methods, approaches and mechanisms for energy saving and energy efficiency are of particular importance. One of the most relevant non-state mechanisms is an energy service contract (performance contract). There are preventive mechanisms that have not yet been imposed on market participants, but are capable of qualitatively changing the company's policy regarding the conservation of resources. The goal of the research is to form an understanding of the potential for applying modern energy saving and energy efficiency mechanisms in Russia and the EU. To achieve this goal, the study provides an overview of the current state of the energy service market in these countries, the conditions and directions of its development, identifies key problems in the application of the energy service contract and assesses its potential. A comparative description of the practice of application of the energy service contract and systems of certification of projects and real estate in Russia and the EU is given.