Proceedings of The 2nd International Conference on Applied Research in Management, Business and Economics

Year: 2019

DOI:

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A Case Study on Smart Energy City of the UK: Based on Business Model Innovation

Minzheong Song

ABSTRACT: 

Abstract

The purpose of this paper is to see a smart energy evolution of the UK along with government projects and smart city project like “Smart London Plan (SLP)” in 2013 with the logic of business model innovation (BMI). For this, it discusses the theoretical logic and formulates a research framework of evolving smart energy from silo to integrated system. The starting point is the silo system with no connection and in second stage, the private investment in smart meters, smart grids implementation, energy and water nexus, adaptive smart grid systems, and building marketplaces with platform leadership. As results, the UK’s smart energy sector has evolved smart meter device installation through smart grid to new business models such as water-energy nexus and microgrid service within on the smart energy city system.

Keywords: Smart city, smart energy, business model, business model innovation