Martino Bonalumi, Davide Chiaroni, Francesca Saraceni, Lorenzo Tencati
This study explores how AI-native startups in the energy sector create, deliver, and capture value to shape their business models and value propositions. By analyzing 252 startups, the research classifies them according to their business model, ultimately identifying five business model archetypes. These clusters differ in whether they offer physical products or services, their position in the energy supply chain, and their key operational activities. The study builds on an existing taxonomy to systematically categorise AI-driven business models in the energy sector. It highlights that AI adoption remains diverse and exploratory, spanning the entire energy value chain without a single dominant trend. This taxonomy not only establishes a shared framework for future conceptual and empirical research but also offers strategic guidance for startups, incumbents, and policymakers. By emphasising AI’s role in driving efficiency, sustainability, and innovation, the paper underscores how digital transformation is reshaping the energy industry and supporting the transition toward an electrified, decarbonised future.