IDEAS home Printed from https://ideas.repec.org/a/eee/renene/v131y2019icp120-127.html
   My bibliography  Save this article

How business model innovation affects firm performance in the energy storage market

Author

Listed:
  • Hamelink, Martijn
  • Opdenakker, Raymond

Abstract

There is a global goal to reduce carbon emissions and create a more sustainable world. Over the past decades, a growing share of renewable energy resources have been developed to reach this goal. Due to their intermittent nature, these resources make it more difficult for an electrical grid to remain stable as it is designed for slow-reacting, constant, and predictable power plants. This issue can be solved through energy storage for load balancing without using power plants for this operation, and with a reaction time that is much faster than conventional power plants.

Suggested Citation

  • Hamelink, Martijn & Opdenakker, Raymond, 2019. "How business model innovation affects firm performance in the energy storage market," Renewable Energy, Elsevier, vol. 131(C), pages 120-127.
    • Handle: RePEc:eee:renene:v:131:y:2019:i:c:p:120-127
    DOI: 10.1016/j.renene.2018.07.051
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0960148118308486
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.renene.2018.07.051?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Laslett, Dean & Carter, Craig & Creagh, Chris & Jennings, Philip, 2017. "A large-scale renewable electricity supply system by 2030: Solar, wind, energy efficiency, storage and inertia for the South West Interconnected System (SWIS) in Western Australia," Renewable Energy, Elsevier, vol. 113(C), pages 713-731.
    2. Richter, Mario, 2012. "Utilities’ business models for renewable energy: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 16(5), pages 2483-2493.
    3. Blanco, Herib & Faaij, André, 2018. "A review at the role of storage in energy systems with a focus on Power to Gas and long-term storage," Renewable and Sustainable Energy Reviews, Elsevier, vol. 81(P1), pages 1049-1086.
    4. Mason, I.G., 2015. "Comparative impacts of wind and photovoltaic generation on energy storage for small islanded electricity systems," Renewable Energy, Elsevier, vol. 80(C), pages 793-805.
    5. He, Xian & Delarue, Erik & D'haeseleer, William & Glachant, Jean-Michel, 2011. "A novel business model for aggregating the values of electricity storage," Energy Policy, Elsevier, vol. 39(3), pages 1575-1585, March.
    6. Steinke, Florian & Wolfrum, Philipp & Hoffmann, Clemens, 2013. "Grid vs. storage in a 100% renewable Europe," Renewable Energy, Elsevier, vol. 50(C), pages 826-832.
    7. Li, Yun & Li, Yanbin & Ji, Pengfei & Yang, Jing, 2015. "Development of energy storage industry in China: A technical and economic point of review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 49(C), pages 805-812.
    8. Locatelli, Giorgio & Palerma, Emanuele & Mancini, Mauro, 2015. "Assessing the economics of large Energy Storage Plants with an optimisation methodology," Energy, Elsevier, vol. 83(C), pages 15-28.
    9. Taylor, Peter G. & Bolton, Ronan & Stone, Dave & Upham, Paul, 2013. "Developing pathways for energy storage in the UK using a coevolutionary framework," Energy Policy, Elsevier, vol. 63(C), pages 230-243.
    10. Connolly, D. & Lund, H. & Mathiesen, B.V. & Pican, E. & Leahy, M., 2012. "The technical and economic implications of integrating fluctuating renewable energy using energy storage," Renewable Energy, Elsevier, vol. 43(C), pages 47-60.
    11. van der Linden, Septimus, 2006. "Bulk energy storage potential in the USA, current developments and future prospects," Energy, Elsevier, vol. 31(15), pages 3446-3457.
    12. Ibrahim, H. & Ilinca, A. & Perron, J., 2008. "Energy storage systems--Characteristics and comparisons," Renewable and Sustainable Energy Reviews, Elsevier, vol. 12(5), pages 1221-1250, June.
    13. Rouholamini, Mehdi & Mohammadian, Mohsen, 2016. "Heuristic-based power management of a grid-connected hybrid energy system combined with hydrogen storage," Renewable Energy, Elsevier, vol. 96(PA), pages 354-365.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Munther Al-Nimer & Sinan S. Abbadi & Ahmad Al-Omush & Habib Ahmad, 2021. "Risk Management Practices and Firm Performance with a Mediating Role of Business Model Innovation. Observations from Jordan," JRFM, MDPI, vol. 14(3), pages 1-20, March.
    2. Angel-Luis Meroño-Cerdan & Francisco-Jose Molina-Castillo & Carolina Lopez-Nicolas & Jesus Ruiz-Nicolas, 2024. "Growth and Performance: Business Model Innovation in Family Firms," Businesses, MDPI, vol. 4(2), pages 1-14, June.
    3. Hossein Mahdavimazdeh & Loren Falkenberg & Madelynn Stackhouse, 2019. "The Innovation Value Canvas: A Guide To Defining Value Propositions And Target Customers For Commercialization Of Technological Innovations," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 24(02), pages 1-29, February.
    4. Carolina López-Nicolás & Jesús Ruiz-Nicolás & Enrique Mateo-Ortuño, 2021. "Towards Sustainable Innovative Business Models," Sustainability, MDPI, vol. 13(11), pages 1-19, May.
    5. Ute Paukstadt & Jörg Becker, 2021. "Uncovering the business value of the internet of things in the energy domain – a review of smart energy business models," Electronic Markets, Springer;IIM University of St. Gallen, vol. 31(1), pages 51-66, March.
    6. Ahmed Gailani & Tracey Crosbie & Maher Al-Greer & Michael Short & Nashwan Dawood, 2020. "On the Role of Regulatory Policy on the Business Case for Energy Storage in Both EU and UK Energy Systems: Barriers and Enablers," Energies, MDPI, vol. 13(5), pages 1-20, March.
    7. Benzidia, Smaïl & Luca, Ruxandra Monica & Boiko, Sergiy, 2021. "Disruptive innovation, business models, and encroachment strategies: Buyer's perspective on electric and hybrid vehicle technology," Technological Forecasting and Social Change, Elsevier, vol. 165(C).
    8. Laxmi Gupta & Ravi Shankar, 2022. "Adoption of Battery Management System in Utility Grid: An Empirical Study Using Structural Equation Modeling," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 23(4), pages 573-596, December.
    9. Mara Del Baldo & Federica Palazzi, 2023. "High-Growth Benefit Corporations: Leveraging on Intangibles—Insights from Italy," Sustainability, MDPI, vol. 15(14), pages 1-20, July.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Zakeri, Behnam & Syri, Sanna, 2015. "Electrical energy storage systems: A comparative life cycle cost analysis," Renewable and Sustainable Energy Reviews, Elsevier, vol. 42(C), pages 569-596.
    2. Anuta, Oghenetejiri Harold & Taylor, Phil & Jones, Darren & McEntee, Tony & Wade, Neal, 2014. "An international review of the implications of regulatory and electricity market structures on the emergence of grid scale electricity storage," Renewable and Sustainable Energy Reviews, Elsevier, vol. 38(C), pages 489-508.
    3. Gallo, A.B. & Simões-Moreira, J.R. & Costa, H.K.M. & Santos, M.M. & Moutinho dos Santos, E., 2016. "Energy storage in the energy transition context: A technology review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 65(C), pages 800-822.
    4. Haas, J. & Cebulla, F. & Cao, K. & Nowak, W. & Palma-Behnke, R. & Rahmann, C. & Mancarella, P., 2017. "Challenges and trends of energy storage expansion planning for flexibility provision in low-carbon power systems – a review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 80(C), pages 603-619.
    5. Barbour, Edward & Wilson, I.A. Grant & Radcliffe, Jonathan & Ding, Yulong & Li, Yongliang, 2016. "A review of pumped hydro energy storage development in significant international electricity markets," Renewable and Sustainable Energy Reviews, Elsevier, vol. 61(C), pages 421-432.
    6. Müller, Simon C. & Welpe, Isabell M., 2018. "Sharing electricity storage at the community level: An empirical analysis of potential business models and barriers," Energy Policy, Elsevier, vol. 118(C), pages 492-503.
    7. Antweiler, Werner, 2021. "Microeconomic models of electricity storage: Price Forecasting, arbitrage limits, curtailment insurance, and transmission line utilization," Energy Economics, Elsevier, vol. 101(C).
    8. Blanco, Herib & Faaij, André, 2018. "A review at the role of storage in energy systems with a focus on Power to Gas and long-term storage," Renewable and Sustainable Energy Reviews, Elsevier, vol. 81(P1), pages 1049-1086.
    9. Kondziella, Hendrik & Bruckner, Thomas, 2016. "Flexibility requirements of renewable energy based electricity systems – a review of research results and methodologies," Renewable and Sustainable Energy Reviews, Elsevier, vol. 53(C), pages 10-22.
    10. Valerie Eveloy & Tesfaldet Gebreegziabher, 2018. "A Review of Projected Power-to-Gas Deployment Scenarios," Energies, MDPI, vol. 11(7), pages 1-52, July.
    11. Østergaard, P.A. & Lund, H. & Thellufsen, J.Z. & Sorknæs, P. & Mathiesen, B.V., 2022. "Review and validation of EnergyPLAN," Renewable and Sustainable Energy Reviews, Elsevier, vol. 168(C).
    12. Díaz-González, Francisco & Sumper, Andreas & Gomis-Bellmunt, Oriol & Villafáfila-Robles, Roberto, 2012. "A review of energy storage technologies for wind power applications," Renewable and Sustainable Energy Reviews, Elsevier, vol. 16(4), pages 2154-2171.
    13. Hall, Stephen & Roelich, Katy, 2016. "Business model innovation in electricity supply markets: The role of complex value in the United Kingdom," Energy Policy, Elsevier, vol. 92(C), pages 286-298.
    14. Nzotcha, Urbain & Kenfack, Joseph & Blanche Manjia, Marceline, 2019. "Integrated multi-criteria decision making methodology for pumped hydro-energy storage plant site selection from a sustainable development perspective with an application," Renewable and Sustainable Energy Reviews, Elsevier, vol. 112(C), pages 930-947.
    15. Jülch, Verena, 2016. "Comparison of electricity storage options using levelized cost of storage (LCOS) method," Applied Energy, Elsevier, vol. 183(C), pages 1594-1606.
    16. Limpens, Gauthier & Jeanmart, Hervé, 2018. "Electricity storage needs for the energy transition: An EROI based analysis illustrated by the case of Belgium," Energy, Elsevier, vol. 152(C), pages 960-973.
    17. Schriever, Marlene & Halstrup, Dominik, 2018. "Exploring the adoption in transitioning markets: Empirical findings and implications on energy storage solutions-acceptance in the German manufacturing industry," Energy Policy, Elsevier, vol. 120(C), pages 460-468.
    18. Zhang, Ziyu & Ding, Tao & Zhou, Quan & Sun, Yuge & Qu, Ming & Zeng, Ziyu & Ju, Yuntao & Li, Li & Wang, Kang & Chi, Fangde, 2021. "A review of technologies and applications on versatile energy storage systems," Renewable and Sustainable Energy Reviews, Elsevier, vol. 148(C).
    19. Martin, Nigel & Rice, John, 2021. "Power outages, climate events and renewable energy: Reviewing energy storage policy and regulatory options for Australia," Renewable and Sustainable Energy Reviews, Elsevier, vol. 137(C).
    20. Vecchi, Andrea & Li, Yongliang & Mancarella, Pierluigi & Sciacovelli, Adriano, 2020. "Integrated techno-economic assessment of Liquid Air Energy Storage (LAES) under off-design conditions: Links between provision of market services and thermodynamic performance," Applied Energy, Elsevier, vol. 262(C).

    More about this item

    Keywords

    Energy storage; Business model innovation;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:renene:v:131:y:2019:i:c:p:120-127. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/renewable-energy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.