The transition from linear to circular economy has gained momentum in recent years and represents one of the most promising opportunities to achieve sustainable development. Circular practices are even more interesting if applied to resource-intensive industries like the building sector, which is responsible for large energy and materials consumption. Technological solutions to sustain this transition are ready and continue to evolve but, to scale up their adoption, a proper business model that integrates circular principles in all its stages is missing. In this light, this research addresses the meso-level (i.e., industry level) transition towards circular businesses in the building sector, by developing the Envelope for Service (E4S) circular business model for buildings façades. Such circular business model offers product-service system (PSS) façade solutions that meet customer requirements for buildings construction and renovation. The service provider acts as the focal firm of the entire value chain, as it retains ownership and responsibilities over these modular façade systems during the whole lifecycle, thus enabling envelope disassembly, refurbishment and reuse. The study is composed of both qualitative and quantitative analyses to support the commercialisation of this circular business. First, market validation is performed through literature review and expert interviews. From this analysis, stakeholders’ roles, challenges and opportunities are identified, with Energy Service Companies (ESCos) recognised as the most indicated company type to be responsible for the delivery of the E4S offer through pay-per-performance contracts. Then, the discounted cash flow (DCF) analysis based on two case studies demonstrates that, even if the E4S business profitability still suffers the large initial investment gap with standard traditional purchase solutions, the consideration of intangible benefits (i.e., reduced environmental impact) in monetary terms positively affects financial results. Finally, risks and next steps to further develop this circular business are discussed.
Il concetto di economia circolare è divenuto sempre più popolare negli ultimi 20 anni e costituisce una delle più promettenti opportunità per il raggiungimento di uno sviluppo economico sostenibile. In particolare, le pratiche circolari acquisiscono ulteriore rilevanza se applicate a settori dal grande consumo energetico e materiale, come quello edile, caratterizzati da importanti inefficienze. A tal riguardo, la presente ricerca si propone di sviluppare il modello di business circolare Envelope for Service (E4S), avente come offerta un sistema integrato di facciate e servizi capace di incontrare le più disparate esigenze del cliente in fase di costruzione o ristrutturazione di un edificio. Il fornitore dei servizi funge da azienda focale per l’intera catena del valore. Quest’ultimo, infatti, non solo si fa garante nei confronti del cliente del livello di performance erogate dai moduli di facciata stessi, ma ne mantiene la proprietà durante l’intero ciclo di vita, assicurandone così il disassemblaggio e successivo riutilizzo al termine del contratto. Questo studio comprende sia un’analisi qualitativa basata su revisione della letteratura e interviste a potenziali stakeholders, sia una quantitativa volta a valutare la fattibilità economica di tale modello. Dalla prima è stato possibile definire ruoli, opportunità e criticità per ciascun attore coinvolto in questo modello di business. Inoltre, data la somiglianza tra i modelli di business, le Energy Service Companies (ESCos) sono state identificate come le più adatte a ricoprire il ruolo di fornitore dei servizi attraverso contratti pay-per-performance. In seguito, l’analisi empirica basata su due casi studio reali considera i flussi di cassa differenziali generati dal modello di business E4S rispetto a quello tradizionale. Ne emerge che, a fronte di un grande divario tra i due investimenti iniziali, la convenienza economica dell’E4S risulta inferiore rispetto al modello di business convenzionale; tuttavia, la maggiore considerazione in termini monetari dei benefici intangibili generati (come il minore impatto ambientale) impatta positivamente sui risultati economici. In conclusione, vengono trattati i rischi e i passi necessari per ultimare lo sviluppo di questo business circolare.
Implementing circular economy in the building sector : envelope for service
Aleotti, Pietro
2020/2021
Abstract
The transition from linear to circular economy has gained momentum in recent years and represents one of the most promising opportunities to achieve sustainable development. Circular practices are even more interesting if applied to resource-intensive industries like the building sector, which is responsible for large energy and materials consumption. Technological solutions to sustain this transition are ready and continue to evolve but, to scale up their adoption, a proper business model that integrates circular principles in all its stages is missing. In this light, this research addresses the meso-level (i.e., industry level) transition towards circular businesses in the building sector, by developing the Envelope for Service (E4S) circular business model for buildings façades. Such circular business model offers product-service system (PSS) façade solutions that meet customer requirements for buildings construction and renovation. The service provider acts as the focal firm of the entire value chain, as it retains ownership and responsibilities over these modular façade systems during the whole lifecycle, thus enabling envelope disassembly, refurbishment and reuse. The study is composed of both qualitative and quantitative analyses to support the commercialisation of this circular business. First, market validation is performed through literature review and expert interviews. From this analysis, stakeholders’ roles, challenges and opportunities are identified, with Energy Service Companies (ESCos) recognised as the most indicated company type to be responsible for the delivery of the E4S offer through pay-per-performance contracts. Then, the discounted cash flow (DCF) analysis based on two case studies demonstrates that, even if the E4S business profitability still suffers the large initial investment gap with standard traditional purchase solutions, the consideration of intangible benefits (i.e., reduced environmental impact) in monetary terms positively affects financial results. Finally, risks and next steps to further develop this circular business are discussed.File | Dimensione | Formato | |
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https://hdl.handle.net/10589/181754