Governing sustainability transitions through business model innovation: Towards a systems understanding
Open accessAbstract
This paper examines the role of innovative business models in the transformation of socio-technical systems. Focusing on decentralised energy technologies, we explore business model innovation in the context of a transition towards a more sustainable energy system. We conduct an empirical study of two Energy Services Company (ESCo) models for the deployment of combined heat and power with district heating (CHP/DH) infrastructure in the UK. Based on these case studies we illustrate the different ways in which Local Authorities develop business models to create and capture value from more efficient resource use and to deploy sustainable technologies. Drawing from systems theories in the business model and socio-technical literatures, we analyse the interfaces between business models, energy infrastructure and institutions. We propose that a systems based approach to the analysis of business models as embedded in their socio-technical contexts can offer new insights into the dynamics and governance of sustainability transitions.
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The importance of business model design for commercial success with alternative technologies has been demonstrated in studies on energy service companies and electric vehicles.
“The importance of business model design for commercial success with alternative technologies has recently been demonstrated in different studies, for example, on energy service companies (ESCos; Bolton & Hannon, 2016) and electric vehicles (Bohnsack et al., 2014;Bohnsack & Pinkse, 2017).”
From Sustainable entrepreneurship, innovation, and business models: Integrative framework and propositions for future research (2020) · cites this paper as Bolton & Hannon, 2016
The literature seems to agree that business models are important for the commercial success of clean technologies.
“Regarding clean technologies, for example, the literature seems to agree on the importance of business models for commercial success (e.g., Bohnsack et al., 2014;Bolton & Hannon, 2016;Huijben, Verbong, & Podoynitsyna, 2016).”
From Sustainable entrepreneurship, innovation, and business models: Integrative framework and propositions for future research (2020) · cites this paper as Bolton & Hannon, 2016
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References 64 · Cited by 312
- Authors
- Bolton, R., & Hannon, M.
- Affiliations
- University of Edinburgh (GB)
- University of Strathclyde (GB)
- Corresponding author
- Bolton, Ronan
- Venue
- Research Policy
- Publisher
- Elsevier BV
- Published
- 2016-11
- Volume
- 45
- Issue
- 9
- Pages
- 1731-1742
- ISSN
- 0048-7333 (ISSN-L)
- OpenAlex
- W2409191041
- Cited by
- 312
- References
- 64
- Citations by year
- 2026: 15 · 2025: 33 · 2024: 39 · 2023: 31 · 2022: 30 · 2021: 47 · 2020: 46 · 2019: 30 · 2018: 26 · 2017: 14
- FWCI
- 17.30
- Type
- journal article
- Language
- en
- Open access
- hybrid
- doi.org
- Locations
- Research Policy (publishedVersion, cc-by)
- Strathprints: The University of Strathclyde institutional repository (University of Strathclyde) (submittedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Edinburgh Research Explorer (University of Edinburgh) (submittedVersion, cc-by)
- Funders
- EPSRC for funding under the “Transition pathways to a low carbon economy” project: (EP/F022832/1, EP/M008215/1)
- “Reframing Energy Demand” project (RES-599-28-0001)
- ESRC for funding through the Centre for Climate Change, Economics and Policy (CCCEP)
- Topics
- Physical Sciences › Environmental Science › Global and Planetary Change › Sustainability and Climate Change Governance
- Social Sciences › Business, Management and Accounting › Strategy and Management › Innovation and Knowledge Management
- Social Sciences › Business, Management and Accounting › Strategy and Management › Sustainable Supply Chain Management
- Keywords
- business model innovation, sustainability transitions, socio-technical systems, energy service companies, combined heat and power, district heating, local government, energy governance, value creation, systems thinking
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