According to International Energy Agency, clean energy investment started to pick up & is expected to exceed USD1.4 trillion in 2022, accounting for almost three-quarters of the growth in overall energy investment. Therefore, rising investments in clean energy are on the upswing in recent years.

According to MarkNtel Advisors study, The Global Solar Panel Recycling Market size is valued at around USD 402 million in 2024 and is estimated to grow at a CAGR of around 12.45% during the forecast period, i.e., 2024-30.

The growing adoption of solar energy continues to grow due to various factors such as rising environmental concerns, rapid government policies & incentives, energy demand, etc., and more solar panels being installed globally. However, solar panels have a life span of around 25-30 years.

 Once these panels reach the end of their operational life, they need to be decommissioned & properly disposed of or recycled. Hence, it is expected to supplement the demand for solar panel recycling in the forthcoming years. According to the International Renewable Energy Agency, large amounts of solar PV annual waste are anticipated by the early 2030s, around 1.7-8 million tons.

These are equivalent to nearly 4% of installed PV panels during that year. Thus, the increasing volume of end-of-life solar panels presents an opportunity for solar panel recycling companies during 2024-30.

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Key Findings in Solar Panel Recycling Market:

Solar Panel Recycling Market Key Players:

Trina Solar Co, Ltd., First Solar Inc., Sunpower Corporation, Aurubis AG , Canadian Solar, Sharp Corporation, Reiling Group, Hanwha Group, Silrec Corporation, Cleanlites Recycling, ROSI Solar, Aerisoul Metal & Energy Corporation, Others

Market Segmentation Overview:

By Process

-Thermal

-Mechanical

-Laser

Thermal Process held a significant share of the Global Solar Panel Recycling Market during the historical period & would follow the same trend in the years ahead. This process involves exposing solar panels to high temperatures to break down various components & separate valuable materials. It typically consists of several steps, including pre-processing, thermal treatment, and post-processing. There are a growing number of companies & organizations working towards the solar panel recycling process.

Companies such as Recycle PV Solar, the first dedicated photovoltaic (PV) module recycling facility in the US, use thermal processes to recycle solar panels. The company uses thermal processes to recycle around 95% of the materials in solar panels, including silicon, glass, and metals. Along with this, advanced emissions control systems & waste management practices are essential to mitigate potential environmental risks associated with the thermal process.

By Type

-Crystalline Silicon

-Thin Film

Crystalline Silicon solar panel captures the major share in the Global Solar Panel Recycling Market, owing to the increasing demand for crystalline solar in standalone PV system, such as telecommunication, signaling tower, etc., where solar panels are mostly utilized to charge batteries. Along with this, rising government support & the availability of recycled crystalline silicon as a sustainable & cost-effective alternative to other silicon helps meet this demand while reducing the environmental impact associated with primary silicon production.

By End User

-Residential

-Commercial & Industrial

-Power Utility

By Service Providers

-OEMs

-In house Recycling

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By Region

North America

South America

Europe

The Middle East & Africa

Asia-Pacific

About MarkNtel Advisors:

MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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