diff --git a/.cookiecutterrc b/.cookiecutterrc
index ab8a1f8..d88512d 100644
--- a/.cookiecutterrc
+++ b/.cookiecutterrc
@@ -63,7 +63,7 @@ default_context:
     test_runner:               'nose'
     travis:                    'yes'
     travis_osx:                'no'
-    version:                   '0.4.0.dev0'
+    version:                   '0.5.0.alpha1'
     website:                   'https://oemof.org/'
     year_from:                 '2020'
     year_to:                   '2020'
diff --git a/docs/conf.py b/docs/conf.py
index dbcd1e6..95d87c1 100644
--- a/docs/conf.py
+++ b/docs/conf.py
@@ -20,7 +20,7 @@
 year = "2020"
 author = "Stephan Günther"
 copyright = "{0}, {1}".format(year, author)
-version = release = "0.4.0"
+version = release = "0.5.0.alpha1"
 
 pygments_style = "trac"
 templates_path = ["."]
diff --git a/setup.py b/setup.py
index b79840e..e02e34d 100644
--- a/setup.py
+++ b/setup.py
@@ -32,7 +32,7 @@ def read(*names, **kwargs):
 
 setup(
     name="oemof.network",
-    version="0.4.0",
+    version="0.5.0.alpha1",
     license="MIT",
     description="The network/graph submodules of oemof.",
     long_description=long_description,
diff --git a/src/oemof/network/__init__.py b/src/oemof/network/__init__.py
index 6c72853..10025c3 100644
--- a/src/oemof/network/__init__.py
+++ b/src/oemof/network/__init__.py
@@ -1,4 +1,4 @@
-__version__ = "0.4.0"
+__version__ = "0.5.0.alpha1"
 
 from . import energy_system
 from . import graph