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- August 2023 (Revised September 2023)
- Technical Note
Power-to-X
By: Willy C. Shih, Michael W. Toffel and Kelsey Carter
To reduce greenhouse gas emissions that were contributing to climate change, the world needs to transition from fossil fuels to renewable energy sources. Power-to-X (PtX) refers to an array of processes that convert electricity (power) to various gaseous and liquid...
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- 2023
- Working Paper
Quality-Adjusted-Power: How to Decide Where to Site Renewables
By: Vishrut Rana, Christian Kaps and Serguei Netessine
- 2023
- Working Paper
Residential Battery Storage - Reshaping The Way We Do Electricity
By: Christian Kaps and Serguei Netessine
In this paper, we aim to understand when private households invest in rooftop solar installations and battery storage, and how these investment decisions affect their electricity usage patterns as well as the market structure overall. We answer three main research...
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- July 2023
- Supplement
Reimagining Enel: Enabling Sustainable Progress (A)
By: Michael Tushman and Kerry Herman
This case describes the transformation of Enel from a traditional “brown” or fossil fuel energy firm to a sustainable and green firm focused on renewables, and finally to an energy supplier and integrated energy services firm. It describes a set of capabilities...
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- July 2023
- Teaching Note
Best Buy: Renew Blue
By: Sunil Gupta, Amram Migdal and Dave Habeeb
Teaching Note for HBS Case No. 523-711.
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- May 2023
- Article
Decarbonizing Health Care: Engaging Leaders in Change
By: Vivian S. Lee, Kathy Gerwig, Emily Hough, Kedar Mate, Robert Biggio and Robert S. Kaplan
Health care leaders are often surprised to learn that their operations contribute
significantly to a warming climate. In addition to their roles as responders to and victims
of extreme weather events, health care organizations have an obligation to reduce...
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- March 2023
- Case
Best Buy: Renew Blue (A)
By: Sunil Gupta, Dave Habeeb and Amram Migdal
Preabstract: The A Video Case should be assigned to students in advance of class. The B case is intended to be used in class by educators and the C case can be assigned to students during or after class. The product is designed as a low-prep case for students, with...
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- February 2023
- Article
Climate Solutions Investments
By: Alex Cheema-Fox, George Serafeim and Hui (Stacie) Wang
An increasing number of companies are providing products and services that help reduce carbon emissions in the economy. We develop a methodology to identify those companies and create a sample of publicly listed climate solutions companies allowing us to study their...
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- January 2023 (Revised March 2023)
- Case
OhmConnect: Energizing the Future
By: Jeffrey F. Rayport, Jennifer Fonstad and Nicole Tempest Keller
Founded in 2013, OhmConnect was a free consumer web app that alerted customers about peak hours of electricity demand, and paid them to lower their energy use at home during these periods. The company sold the aggregated reductions generated by thousands of households...
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Keywords:
App Development;
Renewable Energy;
Electricity Usage;
Regulations;
VC;
Technology;
Customer Acquisition Cost (CAC);
Scalability;
Applications and Software;
Growth and Development Strategy;
Governing Rules, Regulations, and Reforms;
Business Model;
Venture Capital;
Energy Industry;
United States;
California;
Texas;
Europe
- January 2023 (Revised May 2023)
- Case
Elon Musk at Tesla
By: George Serafeim and Amram Migdal
This case gives an overview of Elon Musk’s career arc through the lens of the 2003 founding of Tesla and its growth through 2022. Background information is included on Tesla’s unique strategic decisions, its operational and reputational struggles and successes, and the...
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Keywords:
Business Ventures;
Decision Making;
Design;
Energy;
Renewable Energy;
Engineering;
Entrepreneurship;
Environmental Management;
Climate Change;
Environmental Sustainability;
Green Technology;
Values and Beliefs;
Governance;
Innovation and Invention;
Innovation Leadership;
Innovation Strategy;
Leadership;
Leadership Style;
Management;
Goals and Objectives;
Organizations;
Mission and Purpose;
Society;
Social Issues;
Strategy;
Transportation;
Value;
Auto Industry;
Transportation Industry
- January 2023
- Case
EKI Energy Services: One Billion Carbon Credits
By: George Serafeim
Within nine months from the time of its Initial Public Offering (IPO) in April of 2021, EKI Energy Services (EKI) shares had increased by more than 8,000%. Equally explosive was the growth of the company’s revenues and Earnings Before Interest, Taxes and Depreciation...
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- December 2022
- Technical Note
Risks and Opportunities from the Transition to a Low Carbon Economy: A Business Analysis Framework
By: George Serafeim
The transition to a low carbon economy introduces many risks and opportunities for businesses. Risks emerge from regulatory actions, such as carbon taxes and cap and trade systems, technological innovation that develop alternatives for customers making existing...
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Keywords:
Risk Assessment;
Opportunities;
Environmental Sustainability;
Carbon Footprint;
Risk Management;
Competitive Dynamics;
Business Analysis;
Climate Change;
Accounting;
Finance;
Valuation;
Business and Shareholder Relations;
Technological Innovation;
Transition;
Product Positioning;
Renewable Energy;
Analysis
- December 2022 (Revised May 2023)
- Case
Iberdrola: Leading the Energy Revolution
By: Juan Alcácer and Emer Moloney
At the end of 2019, Ignacio Galán, the Chairman and CEO of the world's third largest utility, Iberdrola, reflected on his almost 20 years at the company. He managed a portfolio of three very different businesses, each with their own specific opportunities and...
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Keywords:
Energy;
Energy Generation;
Energy Sources;
Non-Renewable Energy;
Renewable Energy;
Engineering;
Innovation and Management;
Innovation Leadership;
Innovation Strategy;
Technological Innovation;
Leadership;
Growth and Development Strategy;
Market Timing;
Industry Growth;
Mission and Purpose;
Strategy;
Energy Industry;
Green Technology Industry;
Utilities Industry;
Transportation Industry;
Auto Industry;
Spain;
United Kingdom;
United States;
Brazil;
Mexico
- December 2022
- Article
The Emotional Rewards of Prosocial Spending Are Robust and Replicable in Large Samples
By: Lara B. Aknin, Elizabeth W. Dunn and Ashley V. Whillans
Past studies show that spending money on other people—prosocial spending—increases a person’s happiness. However, foundational research on this topic was conducted prior to psychology’s credibility revolution (or “replication crisis”), so it is essential to ask...
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- October 2022 (Revised December 2022)
- Case
Reimagining Enel: Enabling Sustainable Progress
By: Michael L. Tushman and Kerry Herman
CEO Francesco Starace is considering what is next for Enel SpA, one of world's largest energy companies. From 2014 to 2022, he has wrought a dramatic transformation at Enel, restructuring the company's business units; redeploying senior talent across functions and...
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Keywords:
Leadership;
Leadership And Change Management;
Leadership Style;
Leadership Succession;
Renewables;
Energy;
Transformation;
Renewable Energy;
Business Divisions;
Digital Transformation;
Restructuring;
Organizational Structure;
Energy Industry;
Europe;
Latin America;
North America;
Spain;
Italy
- October, 2022
- Article
The Economic Dynamics of Competing Power Generation Sources
By: Gunther Glenk and Stefan Reichelstein
Competing power generation sources have experienced considerable shifts in both their revenue potential and their costs in recent years. Here we introduce the concept of Levelized Profit Margins (LPM) to capture the changing unit economics of both intermittent and...
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Keywords:
Renewable Energy;
Intermittant;
Cost Accounting;
Profitability Analysis;
Learning-by-doing;
Cannibalization Effect;
Energy;
Environmental Management;
Investment;
Operations;
Technological Innovation;
Energy Industry;
Utilities Industry;
Industrial Products Industry;
Manufacturing Industry;
Europe;
North America;
South America;
Africa;
Asia
- September 2022 (Revised February 2023)
- Case
EnergyNow: Powering a New Market
By: Alexander MacKay and James Barnett
In August 2022, EnergyNow co-founder and CEO Stuart MacWilliam (MBA 2015) considers the company strategy for building solar panels to provide power in South Africa’s recently deregulated energy market.
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Keywords:
Business Ventures;
Development Economics;
Energy;
Alternative Energy;
Energy Generation;
Energy Sources;
Renewable Energy;
Entrepreneurship;
Environmental Management;
Ethics;
Geography;
Government and Politics;
Energy Policy;
Law;
Management;
Markets;
Market Timing;
Operations;
Energy Industry;
Utilities Industry;
Africa;
South Africa
- July 2022
- Case
David Crane’s Clean(er) Energy Strategy at NRG
By: George Serafeim, Michael W. Toffel and Tom Quinn
In 2015, David Crane was the CEO of NRG, the second-largest energy producer in the United States. NRG got most of its power from fossil fuels, but Crane – hired as CEO in 2003 as NRG emerged from bankruptcy – had invested heavily in alternative energy, loudly...
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