TY - CHAP

T1 - Innovative Business Models for Offshore Wind Energy

T2 - 22nd ISPIM Conference - 2011

AU - Richter, Mario

N1 - Conference code: XXII

PY - 2011

Y1 - 2011

N2 - Offshore wind energy is considered an effective and reliable source of power with tremendous potential for Germanys' future electricity supply. Due to the technology's downsides, like capital intensity and high economic risk, offshore wind energy is mainly considered the domain of large and financially strong electric utilities. Small and medium sized municipal utilities on the contrary are traditionally characterized by strong ties to their community and low risk business models at the regional and local level. In reality however, German municipal utilities are currently advancing to forerunners in offshore wind energy based on innovative business models. The present study identifies two generic business models and reveals that in this endeavor municipal utilities are rather driven by strategic considerations than pure return expectations. It is shown how business model innovation can help to enter new markets and thus help to face the challenges of the energy transition.

AB - Offshore wind energy is considered an effective and reliable source of power with tremendous potential for Germanys' future electricity supply. Due to the technology's downsides, like capital intensity and high economic risk, offshore wind energy is mainly considered the domain of large and financially strong electric utilities. Small and medium sized municipal utilities on the contrary are traditionally characterized by strong ties to their community and low risk business models at the regional and local level. In reality however, German municipal utilities are currently advancing to forerunners in offshore wind energy based on innovative business models. The present study identifies two generic business models and reveals that in this endeavor municipal utilities are rather driven by strategic considerations than pure return expectations. It is shown how business model innovation can help to enter new markets and thus help to face the challenges of the energy transition.

KW - Sustainability sciences, Management & Economics

KW - Offshore Wind Energy

KW - Municipal Utility

KW - Energy Transitions

KW - Business Model

KW - Renewable Energy

KW - Entrepreneurship

M3 - Article in conference proceedings

BT - Sustainability in Innovation. Innovation Management Challenges

A2 - Huizingh, Eelko

A2 - Torkkeli, Marko

A2 - Conn, Steffen

A2 - Bitran, Iain

PB - International Society for Professional Innovation Management

CY - Hamburg

Y2 - 12 June 2011 through 15 June 2011

ER -