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Uncovering the business value of the internet of things in the energy domain – a review of smart energy business models

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  • Ute Paukstadt

    (University of Münster)

  • Jörg Becker

    (University of Münster)

Abstract

In the energy industry, Internet of Things technologies emerge in the form of smart energy products, like smart meters, which are expected to reveal new business potentials and offer value for customers. Through attractive business models, such technologies can generate economic value. However, until now, the existing research has not comprehensively identified, analyzed, and grouped together smart energy business models. Moreover, the literature has not placed smart energy business models under the concept of smart products and services. To address this gap, we review the literature through an information systems lens and assess the status quo of research on smart energy business models, identify relevant business model types, and propose a research agenda for future research on Internet of Things-based business models in the energy sector.

Suggested Citation

  • 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.
    • Handle: RePEc:spr:elmark:v:31:y:2021:i:1:d:10.1007_s12525-019-00381-8
    DOI: 10.1007/s12525-019-00381-8
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    Cited by:

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    2. Muhammad Saidu Aliero & Muhammad Asif & Imran Ghani & Muhammad Fermi Pasha & Seung Ryul Jeong, 2022. "Systematic Review Analysis on Smart Building: Challenges and Opportunities," Sustainability, MDPI, vol. 14(5), pages 1-28, March.
    3. Graziela Molling & Amarolinda Zanela Klein, 2022. "Value proposition of IoT-based products and services: a framework proposal," Electronic Markets, Springer;IIM University of St. Gallen, vol. 32(2), pages 899-926, June.
    4. Gunasekaran Manogaran & Naveen Chilamkurti & Ching-Hsien Hsu, 2021. "Internet of Things for Electronic Markets," Electronic Markets, Springer;IIM University of St. Gallen, vol. 31(1), pages 13-15, March.
    5. Jiachao Peng & Hanfei Chen & Lei Jia & Shuke Fu & Jiali Tian, 2023. "Impact of Digital Industrialization on the Energy Industry Supply Chain: Evidence from the Natural Gas Industry in China," Energies, MDPI, vol. 16(4), pages 1-32, February.

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    More about this item

    Keywords

    Smart energy; Smart grid; Smart energy business models; Smart grid business models; Internet of things business models;
    All these keywords.

    JEL classification:

    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General

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