Greenovation: Building a Circular and Regenerative World

This article examines how renewable energy, circular economy, and smart city initiatives are emerging as powerful tools to address these challenges and create a sustainable future for generations to come. Solar, wind, and hydroelectric power are at the forefront of this shift, each contributing to a more sustainable and efficient energy future. Sachidanand Upadhyay, Hasit Kaji, and other industry leaders share insights into the most promising developments in these fields and the challenges we face in accelerating their adoption.

- Aanchal Ghatak

The imperative for sustainable solutions has never been more urgent. As the world grapples with climate change, resource depletion, and urban challenges, innovation emerges as a powerful catalyst for transformation. The convergence of renewable energy, circular economy, and smart city concepts is shaping a new era of sustainability, with profound implications for industries and societies alike.

REWIRING THE PLANET

The renewable energy sector is experiencing a renaissance, driven by technological advancements and a growing global commitment to decarbonization. As Sachidanand Upadhyay, MD of Lord’s Mark Industries Limited, emphasizes, “The energy landscape is undergoing a remarkable transformation.” Innovations like perovskite solar cells, bifacial panels, and concentrated solar power fuel the sector’s rapid growth. Wind power, too, is experiencing a resurgence, with larger turbine blades, improved aerodynamics, and offshore wind farms expanding its potential.

Hydropower, a mature technology, is undergoing a revival with a focus on small-scale, low-impact projects. Additionally, marine energy is emerging as a promising, albeit nascent, source of renewable electricity.

CIRCULAR ECONOMY: CLOSING THE LOOP ON WASTE

The circular economy, a systemic approach to resource management, is gaining momentum as a response to the mounting waste crisis. “By leveraging data to optimize asset performance and predict energy output, we can significantly enhance the efficiency and profitability of these projects,” emphasizes Hasit Kaji, independent advisor and former CDIO of Tata Power. Data analytics is indeed a cornerstone of a circular economy, enabling better decision-making and resource optimization.

Value creation from data generated from a solar or wind plant is a result of influencing outcomes as measured by solar yield optimization through predictive maintenance of assets.