Towards a Circular Economy: Investigating the Critical Success Factors for a Blockchain-Based Solar Photovoltaic Energy Ecosystem in Turkey

Abstract

Novel business models can be implemented through digital platforms to enable better circular economy (CE) performance in the renewable energy industry. For example, blockchain can assist in developing innovative business models throughout the solar photovoltaic energy ecosystem (SPVEE) to improve CE. Ranked fifth in total installed photovoltaic (PV) capacity, Turkey, as a developing country, should take the necessary steps and make progress towards achieving CE in the SPVEE. The solar PV industry requires further innovation to address the negative environmental impact of existing linear business models. To ensure favorable results, identifying and evaluating critical success factors (CSFs) are necessary. However, no study has investigated CSFs for SPVEE or any other renewable energy source to achieve a blockchain-based infrastructure towards increased CE performance. Therefore, the goal of this study is to identify and examine the CSFs to improve the performance of a blockchain-based SPVEE towards CE in Turkey. To this end, first, the CSFs for blockchain-based SPVEE were identified through both a literature review and the Nominal Group Technique (NGT). Then, Intuitionistic Fuzzy (IF)DEMATEL was used to explore their interrelationships based on the expert data. Finally, IF-DELPHI was employed to validate the results. Our findings suggested that effective government incentive programs and regulations are significant for blockchain-based SPVEE towards CE in Turkey. The findings of this study assist macro and micro decision-making in the potential implementation of blockchain in Turkish SPVEE to improve CE. They are also invaluable for other countries and can be used as a reference point. (c) 2021 International Energy Initiative. Published by Elsevier Inc. All rights reserved.