The circular economy is a model of both production and consumption. It involves leasing, reusing, sharing, repairing and recycling existing materials and products in ways which extends their lifecycle for as long as possible.
Practically, the objective is to reduce waste to a minimum by finding ways to extract all possible value from resources. Products or components at the end of their life can be repurposed in another use, whether for an entirely new product or as part of a whole.
The typical model for the circular economy is:
Connected Energy: A breakthrough approach
The progression to a circular economy requires the restructuring of industries, processes and services.
Success cannot be achieved by product redesign alone.
In positioning and promoting the use of second life batteries in two immense markets, automotive and energy (products and services), Connected Energy is accelerating their adaptation so that the use of second life batteries within energy storage systems becomes a key part of the value chain.
By adopting this more responsible and forward-thinking approach to material usage, the circular economy can in fact deliver a more competitive global economy.The environmental impact of production and consumption is also reduced.
Our low-cost technology also facilitates the greater uptake of energy storage, which in turn enables the greater penetration and optimisation of renewable energy in electricity networks.
Its broad applicability means E-STOR is a sustainable way to improve energy resilience and optimise the value of renewable generation.
You can read our full length analysis of the circular economy and the waste hierarchy by clicking here.Tell me more