Technology is not a Barrier: A Survey of Energy System Technologies Required for Innovative Electricity Business Models Driving the Low Carbon Energy Revolution

Christoph Mazur, Stephen Hall, Jeffrey Hardy and Mark Workman
Additional contact information
Christoph Mazur: Chemical Engineering Department, Imperial College London, London SW7 2AZ, UK
Stephen Hall: School of Earth and Environment, University of Leeds, Leeds LS2 9JT, UK
Jeffrey Hardy: Grantham Institute—Environment and Climate Change, Imperial College London, London SW7 2AZ, UK
Mark Workman: Energy Systems Catapult, Birmingham B4 6BS, UK

Energies, 2019, vol. 12, issue 3, 1-13

Abstract: Energy system decarbonisation and changing consumer behaviours will create and destroy new markets in the electric power sector. This means that the energy industry will have to adapt their business models in order to capture these pools of value. Recent work explores how changes to the utility business model that include digital, decentralised or service-based offers could both disrupt the market and accelerate low carbon transitions. However, it is unclear whether these business models are technologically feasible. To answer this question, we undertook an expert panel study to determine the readiness levels of key enabling technologies. The result is an analysis of what technologies may hinder electricity business model innovation and where more research or development is necessary. The study shows that none of the business models that are compatible with a low carbon power sector are facing technology barriers that cannot be overcome, but there is still work to be done in the domain of system integration. We conclude that, especially in the field of energy system coordination and operation, there is a need for comprehensive demonstration trials which can iteratively combine and test information and communications technology (ICT) solutions. This form of innovation support would require a new approach to energy system trials.

Keywords: technology review; electricity system; future service energy business models; technology readiness level; energy revolution (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
https://www.mdpi.com/1996-1073/12/3/428/pdf (application/pdf)
https://www.mdpi.com/1996-1073/12/3/428/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jeners:v:12:y:2019:i:3:p:428-:d:201811

Access Statistics for this article

Energies is currently edited by Ms. Agatha Cao

More articles in Energies from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().