Business Approaches in the Energy Sector - a Review.

The significance of enhancing business models within the energy sector has markedly increased in recent years due to the growing demand for sustainable energy sources and the requirements created by regulations and imposed on companies in relation to environmental protection. The purpose of this research is to provide suggestions for the development of business models corresponding to the present, which take into account the principles of sustainable development, in a competitive environment characterized by heightened volatility. By analyzing the literature and industry examples, it is argued that business models in the energy sector have to adapt in three main directions: adopting green technologies, rethinking production using digital platforms and tools, but also based on knowledge-based services. In order to generate a comprehensive analysis, the PRISMA methodology was used and the Web of Science database was queried by scanning all the publications on the business models in energy. The basic idea in the case of business models in the field of energy forces companies to a permanent and flexible adaptation of the business to the developments in the economic, social, legal, technological and ecological spheres by promoting energy efficiency solutions and the large-scale use of energy renewable sources, but also in relation to the realities already present regarding high energy prices, uncertain long-term supply and the huge environmental impact of fossil energy consumption. [ABSTRACT FROM AUTHOR]