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Business Model Canvas Design for Solar-Assisted Thermal Air Conditioning Using CO2

In: Advances in Empirical Economic Research

Author

Listed:
  • Saad Dilshad

    (COMSATS University Islamabad)

  • Naeem Abas

    (University of Gujrat)

  • Qadeer ul Hasan

    (COMSATS University Islamabad)

  • Ali Raza Kalair

    (Swinburne University)

Abstract

Domestic and industrial air conditioning is in high demand because of a growing population and their ever-evolving needs. As a result of human dependence on fossil fuels, climate change and its leading concerns have become a significant threat to humanity. Renewable energy sources must be integrated into the existing energy supply system due to the depletion of fossil fuels and present environmental concerns. High-power compressors are employed in the air-conditioning industry used and air conditioning of homes, HVAC systems, commercial, cold storage, and supermarkets. Apart from high power consumption, existing CFC- and HCFC-based refrigerants do not meet the environmentally benign meritorious criteria and will eventually be phased out. Carbon dioxide (R744) is a naturally occurring substance, it has favorable thermos-physical properties to be used as a refrigerant, and it is environmentally safe. Researchers and engineers in technical domains lack experience introducing their products to the marketplace. Business models substantially impact the commercialization of innovative concepts and their technical and economic execution in modern globalization. With solar thermal-assisted air conditioning as an idea, this research aims to establish an innovative business model design for engineers working on ingenious technologies and seeking commercialization. A business model for solar thermal-assisted air-conditioning system operating by integrating both photovoltaic and thermal (PV/T) is presented in this work. This article offers the reader all the knowledge necessary to develop a thorough business plan for commercializing their idea. Ten national and international respondents were questioned in semi-structured, one-on-one interviews, and their perspectives were analyzed.

Suggested Citation

  • Saad Dilshad & Naeem Abas & Qadeer ul Hasan & Ali Raza Kalair, 2023. "Business Model Canvas Design for Solar-Assisted Thermal Air Conditioning Using CO2," Springer Proceedings in Business and Economics, in: Nicholas Tsounis & Aspasia Vlachvei (ed.), Advances in Empirical Economic Research, chapter 0, pages 573-585, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-22749-3_36
    DOI: 10.1007/978-3-031-22749-3_36
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