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Diverse and innovative business models are being adopted in the UK and globally to enable the commercialisation of electric vehicles (EVs). The introduction of information and communication technology (ICT) in electricity networks is the primary enabler of these new business models at the interface of energy and private transport sectors.
This case study proposes to analyse and describe business models in the electric vehicle sector that are arising as a result of the digital economy. Four innovative applications of electric vehicles that can only be achieved in the context of an “intelligent” energy network will be explored:
- the value of controlled EV charging;
- the integration of electric vehicles in “smart home” energy systems;
- renewable electricity storage in vehicle batteries;
- electric vehicles as providers for secondary energy markets.
Digital technologies enable communications between vehicles, charging infrastructure, grid operator, and home energy management systems. With controlled vehicle charging, customers can reduce their fuel bills and utilities can optimise the utilisation of power system capacity. Integrated into intelligent” power networks, EV batteries can be used to store intermittent renewable production from new technologies such as wind and solar power.
This case study will address the electric vehicle sector as a whole and the way ICT are extending business models beyond traditional private vehicle sales, towards innovative strategies for value creation and capture.