Circular Economy in Energizing Smart Cities

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Author(s): K. S. Sastry Musti (Namibia University of Science and Technology, Namibia)
Copyright: 2020
Pages: 19
Source title: Handbook of Research on Entrepreneurship Development and Opportunities in Circular Economy
Source Author(s)/Editor(s): Neeta Baporikar (Namibia University of Science and Technology, Namibia & University of Pune, India)
DOI: 10.4018/978-1-7998-5116-5.ch013

Keywords: Business & Management / Business Science Reference / Economics & Economic Theory / Entrepreneurship

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Abstract

Principles of the circular economy are adopted in many fields to achieve sustainable ecosystems and to mitigate greenhouse gasses. Industry 4.0 technologies can significantly assist in applying circular economy principles to save energy and mitigate greenhouse gases to an extent. This chapter focuses on opportunities and challenges of adopting circular economy principles in the energy sector specifically in managing futuristic smart cities. Six major areas of energy conservation processes in smart cities are analyzed for this purpose. Given the interdisciplinary nature of the problem, an effective link is established between different areas such as circular economy, smart cities, Industry 4.0, and energy sector. Major energy conservation strategies such as demand-side management, waste to energy production, and recycling of apparatus are taken up. A novel, Industry 4.0-based information system for monitoring various energy-related processes in a smart city and a conceptual dashboard to visualize key indicators are proposed.

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