Building a Green Economy with Modern Practices Like P2P, EaaS and Circular Economy

To ensure a sustainable future, one must reconsider the ways of production, distribution, and consumption of energy. This necessitates the integration of various innovative concepts for sustainable energy management. The presented system provides the synergistic integration of Energy as a Service (EaaS), Circular Economy (CE) principles, and Peer-to-Peer (P2P) electricity trading as a comprehensive framework for sustainable energy management. The EaaS paradigm shifts energy consumption from a product-based approach to a service-oriented model. P2P electricity trading enables the selling of electricity between peers, thus enabling decentralized energy production. Circular Economy principles aim for waste minimization and emphasize the adoption of renewable resources and resource optimization. This study further analyses the barriers to implementing these concepts and provides strategic recommendations to overcome them. By implementing the integration of various innovative approaches, the energy sector can achieve substantial environmental, economic, and social benefits, and a resilient and sustainable energy system.