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Business models for smart energy systems

Individual course

The course introduces students to

  1. the analysis of existing and forthcoming business models for smart energy systems with different new stakeholders/technologies
  2. their applications through several managerially-oriented frameworks
  3. tools to understand how companies generate and transform their business models.

From such bases, participants will study how these frameworks work in future energy systems.

The analysis of prospective business models for the future energy industry also considers the impact of the so-called ‘energy transition’, business models in renewable energy as well as the potential new entrants that may offer a range of innovative energy service solutions based on both the current and forthcoming disruptive storage and digital technologies.

This course is practical by its nature, and students will apply the existing frameworks in the analysis of particular cases. The course includes in-class teaching of the core strategy and business based analytical frameworks and tools. However, students are expected to be familiar with the basic technical concepts related to smart energy systems before starting the course.

Learning outcomes

By the end of the course, students

  • will be able to apply existing theoretical and empirical evidence on business models to smart energy systems.
  • will be able to understand the business model logic of the main actors within future flexible energy systems.
  • will have learnt how to apply different frameworks, tools, and techniques to understand, analyse, evaluate, and even redesign and transform (innovate) the business models of different actors involved.
  • will recognise the core building blocks of different new business models in smart energy systems while identifying how these blocks interact and can be combined into different configurations to create, deliver, and capture value.

The analysis considers different customer segments and both the role of different energy stakeholders and the organisation of the energy value systems. The analysis also includes the share of command and control between different players within the whole energy ecosystem.

Finally, regarding its intended learning outcomes, the course will support the development of students’ interpersonal, analytical, critical thinking, problem-solving and decision-making skills.

Course material

  • Lecture material (and other material announced in lectures)
  • Selected book chapters and articles for the course.

Teaching schedule

Lectures will be held online and on campus (recordings available).

Lectures on Mondays (and 2.4.2024 on Tuesday):

  • Mon 11.3.2024 14:30-16
  • Mon 18.3.2024 12-15
  • Mon 25.3.2024 12-15
  • Tue 2.4.2024 12-15
  • Mon 22.4.2024 15:15-16
  • Mon 29.4.2024 12-15

Completion methods

Online lectures (20 h), exercises (group assignment and presentation), independent work (115 h) and final examination. FITech students can complete the course online synchronously or online asynchronously.

This course replaces the course Business models for battery storages.

More information in the University of Vaasa study guide.

You can get a digital badge after completing this course.

Responsible teacher

University of Vaasa
Rodrigo Rabetino

Contact person for applications

FITech Network University
Fanny Qvickström, Student services specialist
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Energy markets and business models
Course code:
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0 €
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Host university:
University of Vaasa
Who can apply:
Adult learner,
Degree student
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General prerequisites:
The basic technical concepts related to smart energy systems.
Course suitable for:
Future energy system professionals
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