Sustainable business models for the energy sector: Value creation for the energy community and deployment of energy community projects

Abstract

The United Nations General Assembly (UNGA) introduced the Sustainable Development Goals (SDGs) in 2015, aligning with its Agenda 2030 strategy for sustainable development. SDG 7 specifically addresses global energy objectives, emphasizing universal access to affordable, reliable clean energy, an increased share of renewables in the global energy mix, and accelerated energy efficiency advancements. The global energy sector's transformative shift towards innovative solutions has birthed new business models driven by innovation. Consequently, businesses are urged to adapt their energy models to these changes (UN DESA, 2017). The main research question reflects the primary objective of this research, which was to investigate SBMs and their potential to enhance value creation within the energy community, therefore influencing the deployment of energy community projects. The objective of this study was to explore and seek multiple perspectives and understandings about the creation of value by sustainable business models (SBMs) in the energy sector. The study aimed to answer the main research question by acquiring new perspectives and understanding of the role of SBMs in creating value within energy communities and the deployment of ECPs. The aim was to offer managerial and stakeholder guidance on aligning and adapting their business models due to the global energy transition and to contribute economically, environmentally, and socially within communities through ECP deployment. This research study was exploratory in nature and sought to gain understanding, multiple perspectives, and new insights, and to identify social actions from energy communities, therefore the research methodology was qualitative and includes ideals of interpretivism that are exploratory in nature. Data gathering process was undertaken through 18 semi -structured interviews. The research setting was the energy sector, and the research aimed to draw on the experience, knowledge, and expert opinion of business professionals in Southern Africa (specifically in South Africa, Namibia and Zimbabwe) as well as other countries internationally (specifically in France and Indonesia). The research project aimed to provide contribution to the body of literature n business literature and energy literature as well as value creation outcomes for communities. The literature was expanded to include contributions within the energy literature on grid value, energy democratisation, quality of life, monopolistic renewable energy business models, and community self-sufficiency. The study also discovered insights especially within the energy literature, which were then included into the body of literature.