Unlocking the Economic and Business Potential of District Heating: The State of the Art and a Research Agenda

District heating (DH) systems offer a sustainable solution to local energy needs by improving energy efficiency, reducing emissions, and fostering economic development. Despite their growing technological relevance, DH systems remain underexplored in the economics, business, and management literature. This study addresses this gap by conducting a bibliometric analysis of DH research at the intersection of these fields, using data extracted from the Web of Science. We identify major theoretical foundations, including the resource-based view, stakeholder theory, and institutional economics, and explore key themes such as economic viability, business model innovation, regulatory frameworks, and sustainability strategies. By framing DH systems within broader economic and managerial discourses, our findings highlight the interdisciplinary nature of DH research and suggest critical avenues for future investigation, including the role of emerging technologies, consumer behavior, and policy design, and contribute to low-carbon, sustainable development.