Business Model Innovation for Sustainable Energy: How German Municipal Utilities Invest in Offshore Wind Energy
Research output: Journal contributions › Journal articles › Research › peer-review
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In: International Journal of Technology Management, Vol. 63, No. 1/2, 2013, p. 24-50.
Research output: Journal contributions › Journal articles › Research › peer-review
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TY - JOUR
T1 - Business Model Innovation for Sustainable Energy
T2 - How German Municipal Utilities Invest in Offshore Wind Energy
AU - Richter, Mario
PY - 2013
Y1 - 2013
N2 - Offshore wind energy is considered to have tremendous potential for Germany's future electricity supply. Due to the technology's capital intensity, however, offshore wind energy has so far been considered the domain of large utilities. Municipal utilities on the contrary traditionally have strong ties to their community and conduct low risk business models at the regional and local level. Recently, however, German municipal utilities started to invest in offshore wind energy. Based on a series of interviews with municipal utility executives, the present study identifies two innovative business models and ten key drivers for municipal utilities' engagement in offshore wind energy. It is found that the new business models may have significant further potential and help to stimulate the German market. The present study contributes to the industry debate by identifying business model blueprints for offshore wind and to the academic debate by suggesting three generic types of business model innovation with different characteristics.
AB - Offshore wind energy is considered to have tremendous potential for Germany's future electricity supply. Due to the technology's capital intensity, however, offshore wind energy has so far been considered the domain of large utilities. Municipal utilities on the contrary traditionally have strong ties to their community and conduct low risk business models at the regional and local level. Recently, however, German municipal utilities started to invest in offshore wind energy. Based on a series of interviews with municipal utility executives, the present study identifies two innovative business models and ten key drivers for municipal utilities' engagement in offshore wind energy. It is found that the new business models may have significant further potential and help to stimulate the German market. The present study contributes to the industry debate by identifying business model blueprints for offshore wind and to the academic debate by suggesting three generic types of business model innovation with different characteristics.
KW - Sustainability sciences, Management & Economics
KW - Offshore Wind Energy
KW - Renewable Energy
KW - sustainable energy
KW - Business Model
KW - business model innovation
KW - innovation management
KW - German energy industry
KW - Municipal Utility
KW - Energy Transition
KW - technology management
KW - Energy research
KW - Entrepreneurship
UR - http://www.scopus.com/inward/record.url?scp=84881413034&partnerID=8YFLogxK
U2 - 10.1504/IJTM.2013.055578
DO - 10.1504/IJTM.2013.055578
M3 - Journal articles
VL - 63
SP - 24
EP - 50
JO - International Journal of Technology Management
JF - International Journal of Technology Management
SN - 0267-5730
IS - 1/2
ER -