Impact of Sharing Economy Models on Energy Efficiency – Analysis of Ridesharing at European Level

Abstract

The purpose of this paper is to review the recent research regarding the influence of sharing economy models on energy conversion efficiency. Unlike most of the previous studies it has a double approach, examining both the problem of energy efficiency, as well as the aspect of introduction of new and innovative ways of boosting this indicator, which is according to many economists the key of historical economic growth. This study investigates the fact that old economic model of production and distribution seems to have reached its growing limit, and together with the current environment and social problems, creates both a dangerous scenario and an opportunity window for the humanity to switch to a new paradigm. The question we address is whether this new paradigm, based on a combination of innovative technologies, called The Fourth Industrial Revolution, and the new economic system that it promotes - the Collaborative or Sharing economy, really represent a viable solution in terms of efficiency and sustainability. The paper focuses on the logic behind value creation and distribution, which enable complete strangers to cooperate effectively in the economic game. The current analysis provides evidence that this new system has promising prospects towards significant productivity gains and exponential advances in energy efficiency which will drive the economic growth in the new century in a sustainable manner.

Keywords

• energy efficiency
• sharing economy
• ridesharing
• 4th industrial revolution