The global Solar PV Recycling market size is estimated to be $193 million in 2023, and MAResearch analysts predict it will reach $624 million by 2031, growing at a CAGR of 15.8% during the forecast period from 2023 to 2031.
The rapid growth of the solar photovoltaic (PV) industry has brought significant attention to the importance of recycling end-of-life solar panels. As the global push for renewable energy intensifies, the solar PV sector is expected to generate substantial waste, necessitating efficient recycling processes.
Environmental Impact
- Material Recovery: A typical solar panel consists of materials such as glass (76%), aluminum (10%), and valuable metals like silicon, silver, and copper. Efficient recycling can recover up to 95% of these materials, significantly reducing the need for raw material extraction and associated environmental impacts.
- Energy Savings: Recycling solar panels can save significant amounts of energy. For instance, recycling aluminum from solar panels saves up to 95% of the energy required to produce new aluminum from bauxite ore.
Regulatory and Policy Landscape
- EU Legislation: The European Union has taken a proactive stance on solar PV recycling. Under the Waste Electrical and Electronic Equipment (WEEE) Directive, manufacturers are responsible for the recycling of solar panels. This legislation has spurred the development of advanced recycling facilities across Europe.
- US Initiatives: In the United States, states like California have begun implementing policies to address solar panel waste. California’s SB 489 bill classifies end-of-life solar panels as universal waste, simplifying the recycling process and encouraging proper disposal.
Technological Advancements
- Innovative Processes: Advances in recycling technology are improving efficiency and material recovery rates. Thermal, mechanical, and chemical processes are being refined to handle the complex composition of solar panels. For example, the combination of mechanical separation and chemical treatment can effectively recover high-purity silicon and other valuable materials.
- Second-Life Applications: Beyond recycling, there is growing interest in repurposing decommissioned panels. Panels that still function at reduced efficiency can be refurbished and used in less demanding applications, extending their useful life and reducing waste.
Industry Challenges
- Economic Viability: Despite the environmental benefits, the economic viability of solar panel recycling remains a challenge. The cost of recycling currently exceeds the value of the recovered materials in many cases. However, as technology improves and the volume of end-of-life panels increases, economies of scale are expected to enhance profitability.
- Infrastructure Development: The existing recycling infrastructure is inadequate to handle the projected volume of solar panel waste. Significant investments are needed to expand recycling facilities and develop robust collection and processing systems.
The USA market for Global Solar PV Recycling market is estimated to increase from USD million in 2022 to reach USD million by 2030, at a CAGR during the forecast period of 2023 through 2030.
The China market for Global Solar PV Recycling market is estimated to increase from USD million in 2022 to reach USD million by 2030, at a CAGR during the forecast period of 2023 through 2030.
The Europe market for Global Solar PV Recycling market is estimated to increase from USD million in 2022 to reach USD million by 2030, at a CAGR during the forecast period of 2023 through 2030.
The solar PV recycling industry is poised for substantial growth as the volume of decommissioned panels rises. While challenges remain, advancements in technology, supportive policies, and increasing environmental awareness are driving the sector forward. Effective recycling and repurposing of solar panels not only mitigate waste but also contribute to the sustainability of the solar energy industry
This report studies the Solar PV Recycling market, covering market size for segment by type (Crystalline Silicon PV Recycling, Thin Film PV Recycling, etc.), by application (Thermal Process, Mechanical Process, etc.), by sales channel (Direct Channel, Distribution Channel), by player (First Solar, Canadian Solar, SunPower, Reiling GmbH, Trina Solar, etc.) and by region (North America, Europe, Asia-Pacific, South America and Middle East & Africa).
This report provides detailed historical analysis of global market for Solar PV Recycling from 2017-2022, and provides extensive market forecasts from 2023-2031 by region/country and subsectors. It covers the sales/revenue/value, gross margin, historical growth and future perspectives in the Solar PV Recycling market.
Leading Players of Solar PV Recycling including:
- First Solar
- Canadian Solar
- SunPower
- Reiling GmbH
- Trina Solar
- Yingli Energy
- Hanwha Group
- JA Solar
- Echo Environmental
- Silcontel
- Silrec Corporation
- Aurubis
- Envaris
- Renesola
- Reclaim PV Recycling
Market split by Type:
- Crystalline Silicon PV Recycling
- Thin Film PV Recycling
Market split by Application:
- Thermal Process
- Mechanical Process
- Laser Process
Market split by Sales Channel:
- Direct Channel
- Distribution Channel
Market split by Region/Country:
- North America (United States, Canada, Mexico)
- Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- The Middle East and Africa (Middle East, Africa)
- South and Central America (Brazil, Argentina, Rest of SCA)
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| Report Attributes |
Report Details |
| Report Title |
2024-2031 Report on Global Solar PV Recycling Market by Player, Region, Type, Application and Sales Channel |
| Historical Year |
2018 to 2022 (Data from 2010 can be provided as per availability) |
| Base Year |
2023 |
| Forecast Year |
2031 |
| Number of Pages |
103 Pages |
| Customization Available |
Yes, the report can be customized as per your need. |
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