EMPOWER - Local Electricity Retail Markets for Prosumer Smart Grid Power Services

Description

Radical changes in the way energy is produced and consumed are required, in order to meet the goals of the energy strategy 2050. The EMPOWER (local electricity retail markets for prosumer smart grid power services) research projects seeks to advance our understanding of the opportunities and challenges associated with local electricity retail markets. Local electricity retail markets are based on the insight that a significant reduction of greenhouse gas emissions and an increase of energy efficiency can be achieved through a more decentralized or local energy market, in which citizens not only actively participate in the consumption but also in the production of energy. That is, citizens become prosumers. EMPOWER is an EU-funded research project, in which actors (eg. software companies, technology providers, project developers, utilities and researchers from Norway to Malta) collaborate to investigate the underpinnings of local energy markets from different perspectives.
University of St Gallen's research team seeks to investigate the strategic transformation processes that underlie such a shift toward greater decentralization of energy production. It specifically 1. monitors and lays out the types of business models of decentralized energy production and their effectiveness (cf. interactions between utilities and prosumers), 2. provides theoretical and empirical insights on how to master the strategic transformation at the level of the firm and of the market place, 3. provides theoretical and empirical insights on the linkages between decentralized energy markets and energy policy. A specific emphasis will be laid on the cognitive underpinnings and dynamics of strategic transformation.

Additional Informationsunspecified
Commencement Date1 June 2015
Contributors Loock, Moritz (Project Manager); Reuter, Emmanuelle (Project Manager) & Bohnsack, René
Datestamp 15 Mar 2016 09:12
Institute/School IWOE - Institute for Economy and the Environment
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Completion Date 31 December 2017
Publications Loock, Moritz; Bohnsack, René; Reuter, Emmanuelle & Kunze, Christian: Empowering Local Electricity Retail Markets through Business Modeling. St Gallen : University of St Gallen, 2015.
Helms, Thorsten; Loock, Moritz & Bohnsack, René (2016) Timing-based business models for flexibility creation in the electric power sector. Energy Policy, 92 348-358. ISSN 0301-4215
Kubli, Merla; Loock, Moritz & Wüstenhagen, Rolf (2018) The flexible prosumer: Measuring the willingness to co-create distributed flexibility. Energy policy, 114 540-548. ISSN 0301-4215
Keywords business model innovation, regulation, strategic renewal, smart grids, prosumers
Funders EU - Horizon2020
Id 241390
Project Range HSG + other universities + partners
Reference Number No 646476
Project Status ongoing
Subjects business studies
Topics business model innovation, regulation, strategic renewal, smart grids, prosumers
Project Type fundamental research project
URI http://empowerh2020.eu/
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