Unmanned aerial vehicle (UAV)-assisted networking and communications are increasingly used in different applications, especially in the data collection of distributed Internet of Things (IoT) systems; its advantages include great flexibility and scalability. However, due to the UAV’s very limited battery capacity, the UAV energy efficiency has become a bottleneck for longer working time and larger area coverage. Therefore, it is critical to optimize the path and speed of the UAV with less energy consumption, while guaranteeing data collection under the workload and time requirements. In this paper, as a key finding, by analyzing the speed–power and the speed–energy relationships of UAVs, we found that there should be different speed selection strategies under different scenarios (i.e., fixed time or fixed distance), which can lead to much-improved energy efficiency. Moreover, we propose CirCo, a novel algorithm that jointly optimizes UAV trajectory and velocity for minimized energy consumption. CirCo is based on an original projection method, turning a 3D problem (GN locations and transmission ranges on the 2D plane, plus the minimum transmission time requirements on the temporal dimensions) into a 2D problem, which could help to directly find the feasible UAV crossing window, which greatly reduces the optimization complexity. Moreover, CirCo can classify the projected conditions to calculate the optimal path and speed schedule under each category, so that the energy consumption of each situation can be fine-regulated. The experiments demonstrate that CirCo can save as much as 54.3% of energy consumption and 62.9% of flight time over existing approaches.