Uncovering the business value of the internet of things in the energy domain – a review of smart energy business models

Paukstadt Ute, Becker Jörg

Abstract

In the energy industry, Internet of Things technologies emerge in the form of smart energy products, like smart meters, which are expected to reveal new business potentials and offer value for customers. Through attractive business models, such technologies can generate economic value. However, until now, the existing research has not comprehensively identified, analyzed, and grouped together smart energy business models. Moreover, the literature has not placed smart energy business models under the concept of smart products and services. To address this gap, we review the literature through an information systems lens and assess the status quo of research on smart energy business models, identify relevant business model types, and propose a research agenda for future research on Internet of Things-based business models in the energy sector.

Keywords
Smart energy; Smart grid; Smart energy business models; Smart grid business models; Internet of things business models