Business model innovation amid digital transformation: A case study of a renewable energy firm

Digital transformation in the energy sector not only changes how power is generated, delivered, and consumed but also urges firms to change their business model. Renewable energy is an emerging sector responding to the increasing demand for sustainable energy. There is limited understanding about digital business models in this sector. Therefore, this case study shows the digital business model innovation opportunities of NextGridVolt, a renewable-energy provider that designs, installs, and maintains renewable energy systems. Furthermore, this case study introduces a new toolkit focusing on data-driven business model innovation. It provides a structured way to identify a firm’s existing business model and the data it has, inspiring ideas on new business models leveraging existing data sources. Using the toolkit, managers from the case company identified that they have data about clients from previous contracts and solar panel usage data from real-time sensor readings. A data analysis platform that integrates all data sources can enable various business model innovation opportunities, including increasing internal process efficiency and service quality, and providing the platform to external users as a new service.