A Blockchain-Enabled Circular Economy: Collaborative Responsibility in Solar Panel Recycling

Mohammad Jabed Morshed Chowdhury; Naveed Ul Hassan; Wayes Tushar; Dusit Niyato; Tapan K. Saha; H. Vincent Poor; Chau Yuen

doi:10.1109/MIE.2024.3378422

A Blockchain-Enabled Circular Economy: Collaborative Responsibility in Solar Panel Recycling

Mohammad Jabed Morshed Chowdhury, Naveed Ul Hassan, Wayes Tushar, Dusit Niyato, Tapan K. Saha, H. Vincent Poor, Chau Yuen

Research output: Contribution to journal › Article › peer-review

1 Scopus citations

Abstract

The adoption of renewable energy resources, such as solar power, is on the rise. However, the lack of recycling facilities for solar panels in particular poses environmental risks. This article suggests a circular economy (CE) approach to address this issue. By implementing blockchain technology, the end of life (EOL) of solar panels can be tracked, and responsibilities can be assigned to relevant stakeholders. The degradation of panels can be monetized by tracking users’ energy-related activities, and these funds can be used for future recycling. A new coin, the recycling coin (RC-coin), incentivizes solar panel recycling and utilizes decentralized finance (DeFi) concepts to stabilize the coin price and supply issue.

Original language	English (US)
Pages (from-to)	2-19
Number of pages	18
Journal	IEEE Industrial Electronics Magazine
DOIs	https://doi.org/10.1109/MIE.2024.3378422
State	Accepted/In press - 2024

All Science Journal Classification (ASJC) codes

Industrial and Manufacturing Engineering
Electrical and Electronic Engineering

Keywords

Blockchains
Companies
Costs
Landfills
Recycling
Renewable energy sources
Solar panels

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10.1109/MIE.2024.3378422

Cite this

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abstract = "The adoption of renewable energy resources, such as solar power, is on the rise. However, the lack of recycling facilities for solar panels in particular poses environmental risks. This article suggests a circular economy (CE) approach to address this issue. By implementing blockchain technology, the end of life (EOL) of solar panels can be tracked, and responsibilities can be assigned to relevant stakeholders. The degradation of panels can be monetized by tracking users{\textquoteright} energy-related activities, and these funds can be used for future recycling. A new coin, the recycling coin (RC-coin), incentivizes solar panel recycling and utilizes decentralized finance (DeFi) concepts to stabilize the coin price and supply issue.",

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AU - Niyato, Dusit

AU - Saha, Tapan K.

AU - Poor, H. Vincent

AU - Yuen, Chau

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PY - 2024

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AB - The adoption of renewable energy resources, such as solar power, is on the rise. However, the lack of recycling facilities for solar panels in particular poses environmental risks. This article suggests a circular economy (CE) approach to address this issue. By implementing blockchain technology, the end of life (EOL) of solar panels can be tracked, and responsibilities can be assigned to relevant stakeholders. The degradation of panels can be monetized by tracking users’ energy-related activities, and these funds can be used for future recycling. A new coin, the recycling coin (RC-coin), incentivizes solar panel recycling and utilizes decentralized finance (DeFi) concepts to stabilize the coin price and supply issue.

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KW - Costs

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KW - Recycling

KW - Renewable energy sources

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A Blockchain-Enabled Circular Economy: Collaborative Responsibility in Solar Panel Recycling

Abstract

All Science Journal Classification (ASJC) codes

Keywords

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