Business models for energy storage

In this project, we investigate business models for energy storage based on a case study approach. The ambition is to provide a comprehensive overview of current and potential business models for energy storage in the Swedish context. The collaborative project is run by Chalmers together with CIT Renergy, Volvo Energy, Svenska Kraftnät and Södra. 

The project started with an initial mapping of energy storage technologies and application areas. Now, the search for cases that can display a variety of business models applied or contemplated by different actors and at different levels in the grid is on-going. The business model cases will focus on the services and values generated by energy storage solutions based on how these are combined with other resources by different actors and their business partners. Based on these studies, we aim to provide a comprehensive view of the current and emerging business models for energy storage.

Business models and business networks 

We rely on the Industrial Network Approach to business markets. It means that we consider companies as inter-connected by business relationships in network-like, inter-organizational, structures; No business is an island. So, to be able to capture the business logic, the business models need to be understood and conceptualized as integrated parts of their business network contexts. 

Case studies

The project takes a qualitative method approach and will carry out a range of case studies to provide an understanding of the business actors’ concerns when considering; investments in and operation of various energy storage solutions, the selling and buying of physical resources and services related to energy storages, and the real or perceived values that can be captured by energy storages in combination with other resources. Also, the interaction with other actors and the nature of their relationships and/or market transactions are to be described and analyzed. Among the case studies we will focus on second-life batteries and their uses in different applications e.g., in combination with other resources in wind and solar parks, mobile and stationary support to increase grid capacity, while other cases will focus on industrial applications and flexibility in operations. Other areas of interest include energy storage as a key component in energy communities.   

Involved in the project

Colin Kimbrell, Anna Dubois & Frida Lind, Department of Technology Management and Economics, Chalmers. 

Partners

Volvo Energy 
Södra 
Svenska Kraftnät 
CIT Renergy 

Funders

Energimyndigheten and SESBC