Solar Panel Recycling Market Size,Regional Status and Outlook (2024-2031)

The solar panel recycling market is experiencing significant growth globally driven by the increasing installation of photovoltaic technology and the growing push towards sustainable waste management. Rapid expansion of PV market globally, the management of end-of-life PV modules has become a crucial issue for maintaining the positive environmental impacts of this clean energy source.Furthermore, the PV modules having an approximate lifespan of 30 years, the rise in PV deployment lead to projected increase in the number of modules reaching their end of useful life. A report by the International Energy Agency Photovoltaic Power Systems Programme (IEA PVPS) and the International Renewable Energy Agency estimated that waste PV modules globally could account to 1.7-8.0 million tons cumulatively by 2030 and 60-78 million tons cumulatively by 2050.

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Market Dynamics

The solar panel recycling market is expected to be driven with a focus on addressing the increasing volume of end-of-life PV modules globally. According to IEA PVSP report, under a regular loss scenario, an estimated 1.7 million tons of PV module waste are expected by 2030 and around 60 million tons are anticipated by 2050. In an early loss scenario, these numbers could increase to 8 million tons by 2030 and 78 million tons by 2050.France collected 4,905 tons of PV waste in 2019, marking significant growth from previous years. Nonprofit organization Soren manages PV module waste in France, including collection and recycling. New PV recycling facilities were launched in 2021, with more expected in 2022. Also, Australia has introduced mandatory regulations in the state of Victoria and Japan has published guidelines for proper end-of-life treatment.

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Segment Analysis

Mechanical solar panel recycling holds the largest segment in the recycling process. Advanced mechanical recycling methods can recover up to 99% of raw materials at an impressive rate of one solar panel per 40 seconds. Current methods, like First Solar's recycling process, are capable of reusing approximately 90% of the semiconductor material and 90% of the glass in its modules. However, access to these facilities remains limited for most solar customers at this time.An Italian consortium, La Mia Energia, has developed a PV module recycling process known as the Photo Voltaic Panel Mobile Recycling Device, which boasts an impressive recovery rate of nearly 99% of raw materials. The key feature of this technique is its remarkable speed, taking just about 40 seconds to fully recycle a standard panel, depending on its size and the conditions at the recycling site.This process distinguishes itself from conventional thermo-Laser panel recycling methods by employing a series of patented mechanical steps.

Competitive Landscape

The major global players in the market include Recycle Solar Technologies, Silcontel, First Solar, Veolia, Reclaim PV, Echo Environmental, Silicontel ltd, Cleanlites , Rinovasol Group, SMA Solar Technology

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