Link between Innovation in the Circular Economy Design and Efficiency Improvement in the Renewable Energy Technologies

Abstract

A Circular Economy is based on efficiency in natural resource consumption. Reduction in solid and liquid pollution and emissions are built into the new and efficient production processes. To reduce solid and liquid waste, circular economy design is modifying the production process in many industries. Consistent consumer demand for emissions reduction is resulting in a gradual shift from fossil fuels towards renewable energy. Innovation in renewable energy technologies would reduce emissions in the future. This would make the production and consumption process sustainable, making it possible to reach the goals of circular economy design. In the present study, a selection of countries from each continent are striving to reach a goal of circular economy design. For this, they are focusing on renewable energy technologies. They aim to reach 50% to 100% of circular economy design in some of the industries by the year 2060. These countries aim to reach 20% of energy from renewable energy resources during the 2020s; 30% during the 2030s; 40% during the 2040s; and 50% by the year 2060. Innovations in renewable energy technologies could make available a new set of energy resources by the year 2060. In this paper, a set of nine renewable energy technologies are presented.