Energy storage as a trigger for business model innovation in the energy sector
Iliana Ilieva, Jayaprakash Rajasekharan · 2018
This paper studies various techno-economic factors that influence the energy storage market and identifies key thematic elements which will contribute to the development of business models in the energy storage sector. With multiple technological innovations penetrating the electricity generation, transmission and distribution systems, traditional business models in the energy sector stand on the verge of a fundamental transformation. Energy storage will serve as the catalyst for such disruptive business model innovations by offering distributed, on-demand, real-time flexibility and services. Platform business models have already revolutionized other sectors and present a huge potential for energy storage based management services that can dynamically match supply and demand of energy, and cater for flexibility and associated end-user benefits in the grid. The Horizon 2020 project INVADE will realize a cloud-based platform for energy storage services at different levels in the distribution grid along with a rich framework of innovative business models.