Stephen Hall

Steve’s work investigates financial and business model innovation for urban energy systems. Managing our energy use at the city scale can make best use of engineering innovations such as smart meters and decentralised generation, while at the same time supporting economic development, and democratising energy futures. However, decentralised energy systems still need to work with our existing energy markets and make sense for ordinary consumers. Steve’s work looks closely at these links and has included work on why cities might develop smart grids (Hall and Foxon, 2014), innovative energy finance (Hall et al, 2015), and the governance and equity dimensions of ‘civic’ energy systems (Hall et al, 2016; Johnson and Hall, 2015). Recent work has investigated electricity supply business models which could better enable bottom up energy optimisation (Hall and Roelich, 2015/2016). Steve’s ongoing research project is to understand how infrastructure systems in cities can be linked to accelerate low-carbon transitions and better involve citizens and city decision makers. Steve’s work in this area has been used by the International Energy Agency, the C40 Cities network, Ricardo EAE, and the Association for Public Sector Excellence.

By working with the IGOV2 project Steve can bring these insights on business model and financial innovation into a wider research community that understands how institutional, commercial, and governance innovation is a critical enabler for smarter, low-carbon energy futures.


Hall, S., & Roelich, K.E., (2016) Business model innovation in electricity supply markets: the role of complex value in the United Kingdom, Energy Policy,doi:10.1016/j.enpol.2016.02.019

Hall, S., Foxon, T.J., Bolton, R. (2016) “Financing the civic energy sector: How financial institutions affect ownership models in Germany and the United Kingdom.” Energy Research & Social Science 12: 5-15.

Hall, S., Foxon T.J., Bolton, R., (2015) Investing in low carbon transitions: Energy finance as an Adaptive Market, Climate Policy, doi: 10.1080/14693062.2015.1094731

Hall, S., Foxon, T.J., (2014) Values in the Smart Grid: the co-evolving political economy of smart distribution, Energy Policy, doi: 10.1016/j.enpol.2014.08.018

Johnson, V., Hall, S., (2014) Community energy and equity: The distributional implications of a transition to a decentralised electricity system, People, Place and Policy, 8/3, pp. 149-167.

Hall, S., Roelich, K.E., (2015) Local Electricity Supply: Opportunities, archetypes and outcomes. Ibuild/RTP Independent Report. March 2015, Available online at:

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