本研究探討太陽能多晶矽產業中，企業如何因應市場競爭、政策規範與環境永續壓力，進行商業模式轉型與創新實踐。透過質性多重個案研究方法，選取四家具代表性的多晶矽企業（分別代稱 A、B、C、D 公司），結合商業模式九構面（Business Model Canvas, BMC）、創新漏斗（Innovation Funnel）與 RESTART 永續創新架構，分析企業在動態產業環境中的應對策略。
研究資料來源包含四位企業高階主管之深度訪談，以及國際能源總署（IEA）報告與相關文獻資料。分析聚焦於企業創新導入的三個階段：第一階段為商業模式結構的轉變；第二階段為創新活動與商業模式構面的結合；第三階段則探討企業如何將創新成果與永續理念整合，透過 RESTART 七構面實現系統性轉型。
研究發現指出，A公司聚焦產品高效能與垂直整合策略；B公司以製程創新與服務化營運強化成本優勢；C公司採技術導向策略，專攻高純度矽材料與回收應用；D公司則將重心放在能源解決方案與生命週期管理服務。各公司創新歷程皆顯示其不僅限於技術研發，更包含價值主張、顧客關係、收入模式與關鍵活動等多構面的重組。
進一步分析發現，創新漏斗三階段分別對應 BMC 架構中的不同要素：研究階段對應價值主張與顧客細分，開發階段對應關鍵活動與資源配置，實施階段則聚焦通路策略與收入創新。應用 RESTART 架構進行比較後亦可發現，愈能在七構面（重新設計、實驗、服務邏輯、循環經濟、聯盟合作、結果導向、三重價值）間取得平衡者，愈能落實永續發展與商業創新雙軌目標。
本研究不僅補充了永續商業模式創新理論的實證基礎，也為太陽能產業鏈中的中小企業提供創新策略與轉型參考，有助於未來能源企業於變動環境中提升競爭力與韌性。

This study investigates how enterprises within the solar polysilicon industry—positioned at the forefront of the global energy transition—respond to intense market competition, regulatory pressures, and environmental sustainability demands through business model transformation and innovation. Using a qualitative multiple-case study approach, the research examines four representative companies located at different points in the solar polysilicon value chain. The study integrates three analytical frameworks: the Business Model Canvas (BMC), the Innovation Funnel, and the RESTART model for sustainable business model innovation.
The research draws on primary data obtained from in-depth interviews with senior executives from four companies (coded A, B, C, and D), supported by secondary sources including International Energy Agency (IEA) reports and peer-reviewed literature. Through thematic and matrix-based analysis, the study traces each firm's strategic responses across three phases: (1) transformation of business model structures; (2) integration of innovation processes with business model components; and (3) alignment of innovations with sustainability via the RESTART framework.
Key findings indicate that Company A emphasized product differentiation and vertical integration in response to price volatility; Company B prioritized cost leadership through advanced manufacturing and service bundling; Company C adopted a research-driven and niche-focused model with technological customization; and Company D transitioned toward service logic by integrating energy solutions and full lifecycle management. Across all cases, firms demonstrated that innovation was not confined to technology alone, but encompassed reconfiguration of customer relationships, revenue mechanisms, and key partnerships.
The study finds that innovation activities—mapped through the Innovation Funnel—coincide with specific BMC components at each phase. For example, in the "research" stage, firms focused on value propositions, key partners, and resources; in the "development" stage, attention shifted to cost structures and prototype validation; while the "implementation" stage addressed customer segments, channels, and revenue generation. The RESTART framework further revealed that companies with higher alignment across all seven dimensions—Redesign, Experimentation, Service Logic, Circular Economy, Alliances, Results Orientation, and Three-Dimensionality—were more likely to integrate sustainability effectively into their core strategy.
This research contributes to both theory and practice by offering a comprehensive, multi-framework approach to analyze business model innovation under sustainability imperatives. The findings provide actionable insights for renewable energy firms seeking to enhance resilience, stakeholder value, and long-term viability amidst dynamic environmental and policy shifts. Furthermore, this study supports the growing body of literature suggesting that successful sustainable business models must simultaneously deliver economic, environmental, and social value.

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