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Review

Social and Economic Value in Emerging Decentralized Energy Business Models: A Critical Review

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School of Humanities and Languages, University of New South Wales, Kensington, NSW 2052, Australia
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Science Policy Research Unit (SPRU), University of Sussex, Brighton BN1 9RH, UK
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EnergEIA, Universidad EIA, Envigado 055428, Colombia
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Department of Computer Science, University of Bristol, Bristol BS8 1TH, UK
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Energy Institute, University College London, London WC1E 6BT, UK
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Department of Psychology and Swiss Center for Affective Sciences, University of Geneva, 1205 Geneva, Switzerland
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Department of Technology Management and Economics, Chalmers University of Technology, 41296 Göteborg, Sweden
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Sustainable Energy Systems Doctoral Programme, MIT Portugal Initiative, University of Coimbra, 3004-531 Coimbra, Portugal
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imec-SMIT, Vrije Universiteit Brussel, 1050 Ixelles, Belgium
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Energy Transition Hub, University of Melbourne, Parkville, VIC 3010, Australia
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Faculty of Industrial Design Engineering, Delft University of Technology (TU Delft), 2628 CD Delft, The Netherlands
*
Author to whom correspondence should be addressed.
Academic Editor: Beata Zofia Filipiak
Energies 2021, 14(23), 7864; https://doi.org/10.3390/en14237864
Received: 26 October 2021 / Revised: 12 November 2021 / Accepted: 16 November 2021 / Published: 24 November 2021
(This article belongs to the Special Issue The Future of Smart Local Energy System)
In recent years, numerous studies have explored the opportunities and challenges for emerging decentralized energy systems and business models. However, few studies have focussed specifically on the economic and social value associated with three emerging models: peer-to-peer energy trading (P2P), community self-consumption (CSC) and transactive energy (TE). This article presents the findings of a systematic literature review to address this gap. The paper makes two main contributions to the literature. Firstly, it offers a synthesis of research on the social and economic value of P2P, CSC and TE systems, concluding that there is evidence for a variety of sources of social value (including energy independence, local benefits, social relationships, environmental responsibility and participation and purpose) and economic value (including via self-consumption of renewable electricity, reduced electricity import costs, and improved electricity export prices). Secondly, it identifies factors and conditions necessary for the success of these models, which include willingness to participate, participant engagement with technology, and project engagement of households and communities, among other factors. Finally, it discusses conflicts and trade-offs in the value propositions of the models, how the three models differ from one another in terms of the value they aim to deliver and some of the open challenges that require further attention by researchers and practitioners. View Full-Text
Keywords: social value; economic value; peer-to-peer electricity trading; community self-consumption; transactive energy; energy business models social value; economic value; peer-to-peer electricity trading; community self-consumption; transactive energy; energy business models
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MDPI and ACS Style

Adams, S.; Brown, D.; Cárdenas Álvarez, J.P.; Chitchyan, R.; Fell, M.J.; Hahnel, U.J.J.; Hojckova, K.; Johnson, C.; Klein, L.; Montakhabi, M.; Say, K.; Singh, A.; Watson, N. Social and Economic Value in Emerging Decentralized Energy Business Models: A Critical Review. Energies 2021, 14, 7864. https://doi.org/10.3390/en14237864

AMA Style

Adams S, Brown D, Cárdenas Álvarez JP, Chitchyan R, Fell MJ, Hahnel UJJ, Hojckova K, Johnson C, Klein L, Montakhabi M, Say K, Singh A, Watson N. Social and Economic Value in Emerging Decentralized Energy Business Models: A Critical Review. Energies. 2021; 14(23):7864. https://doi.org/10.3390/en14237864

Chicago/Turabian Style

Adams, Sophie, Donal Brown, Juan P. Cárdenas Álvarez, Ruzanna Chitchyan, Michael J. Fell, Ulf J.J. Hahnel, Kristina Hojckova, Charlotte Johnson, Lurian Klein, Mehdi Montakhabi, Kelvin Say, Abhigyan Singh, and Nicole Watson. 2021. "Social and Economic Value in Emerging Decentralized Energy Business Models: A Critical Review" Energies 14, no. 23: 7864. https://doi.org/10.3390/en14237864

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