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This paper summarizes many years of experience in process design and methodology implementation for sustainable innovation development as carried out by the authors within several innovation projects in different industries (e.g. fixed and mobile telecommunications, high tech, logistics). We have developed a research innovation approach which provide effective innovation intelligence and scouting through the use of technology and innovation radars. These instruments enable the identification and evaluation of emerging business and technology trends, provide an overview of the relative maturity and assess their relevance to the company. A rating mechanism helps companies to decide when to adopt an innovation and to develop new products and services. Furthermore, the technology and innovation radars are good strategic tools for early stage identification and prioritization in order to give an approximate value judgment without detailed return-on-investment justifications. In later stages of the planning process, the radar tools can be used as a high-level summary of an underlying prioritization process.

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Utility industry has been faced with disruptive changes in their value creation process over the last decade. New technologies and regulatory pressure change the business models in the utility sector on a broad scale from power generation to utilities retail business on international markets. As a consequence utility companies need to provide complex product-service systems (PSS) to their customers in order to cope with growing customer needs on service as well as on product level. Successful player are currently introducing new product development techniques being capable to orchestrate innovation processes in complex business networks with multiples partners. As a result those companies can meet the growing need for product individualization. The foundation for implementing such a product development concepts is a comprehensive description of such Smart Energy Products, which enables different suppliers to collaborate effectively and efficiently. In this paper a conceptual product model for Smart Energy Products will be proposed as a foundation for a holistic PLM for the utility industry.

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