Market Research Report

Global Solar Panel Recycling Market Research Report: Forecast (2024-2030)

Global Solar Panel Recycling Market Report - By Process (Thermal, Mechanical, Laser), By Type (Crystalline Silicon, Thin Film), By Source (Residential, Commercial & Industrial, Pow...er Utility), By Service Providers (OEM, In house Recycling), By Region (North America, South America, Europe, Asia Pacific, Rest of the World), By Company (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) Read more

  • Energy
  • Jul 2024
  • 189
  • PDF, Excel, PPT

Market Definition

Solar panel recycling refers to the collection, processing, and reclamation of end-of-life or decommissioned solar panels to recover valuable materials & minimize environmental impact. It involves the recycling & reuse of components, such as glass, metals, and semiconductor materials, present in solar panels. It is used to maximize resource efficiency, reduce waste, and promote sustainability in the renewable energy industry across the globe.

Market Insights & Analysis: Global Solar Panel Recycling Market (2024-30):

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 market growth imputes to the rapid growth in solar energy installations across the globe. This led to an increase in the volume of decommissioned or end-of-life solar panels. As solar panels reach the end of their operational life, there is a growing need for efficient & environmentally responsible recycling solutions. Without proper recycling, many end-of-life solar panels could end up in landfills, contributing to the growing electronic waste problem globally.

Recycling helps to divert these panels from landfills, minimizing waste & its associated environmental impacts. The expanding deployment of solar panels & the implementation of Extended Producer Responsibility programs holds solar panel manufacturers accountable for the proper management of their products' end-of-life. This encourages manufacturers to invest in recycling infrastructure & sustainable product design. In addition, owing to the rising government support, the Department of Energy’s National Renewable Laboratory recycled materials, which are expected to meet around 30-50% of domestic solar manufacturing needs in the US by 2040.

Report Coverage Details
Study Period Historical Data: 2019-22
Base Year: 2023
Forecast Period: 2024-30
CAGR (2024-2030) 12.45%
Regions Covered North America: US, Canada, Mexico
Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific
South America: Brazil, Rest of South America
Rest of the World
Key Companies Profiled 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 Value (2024) USD 402 million

 

Moreover, many governments worldwide have implemented supportive policies & incentives to promote renewable energy, including utility-scale solar projects. These could include feed-in tariffs, tax incentives, grants, renewable portfolio standards, and power purchase agreements (PPAs). Such policies provide financial support & long-term contracts that encourage project development & attract investments. This further results in the risen deployment of solar PV globally, which could lead to an increase in expired solar photovolatics (PVs) in the coming years.

This, in turn, demand for the solar recycling market. Increasingly stringent waste management & e-waste regulations are pressuring solar panel manufacturers & project developers to establish recycling programs & responsibly manage the end-of-life phase of solar panels. For instance:

  • In 2022, Solarcycle, working in cooperation with solar providers like Sunrun, with an aim to recover approximately 95% of a solar panel’s value. These panels are then returned to the supply chain & used to manufacture new panels or other materials.

Additionally, Si-wafer-based PV technology accounts for more than 90% of the total global production & would remain so in the future. Recycling Silicon PV modules would expect to reduce the carbon footprint in the forthcoming years. For example, recycling around 1 ton of Si PV panels would approximately save around 800-1200 kgCO2eq global warming potential(GWP) compared to PV panels manufactured from primary materials. Hence, the rising technological advancement to reduce solar PV panels, is anticipated to escalate the market growth during 2024-30.


Global Solar Panel Recycling Market Research Report: Forecast (2024-2030)

Global Solar Panel Recycling Market Driver:

Growing Utility-Scale PV Projects to Foster Market Growth – Utility-scale solar projects across the globe have been increasing due to the advancement in technologies, declining costs of solar PV technologies, and supportive government policies. In 2022, according to the International Energy Agency, Solar PV is forecasted to account for 60% of the growth in global renewable capacity in 2022 with the commissioning of 190 GW, a 25% gain from last year.

In this, utility-scale projects, account for almost two-thirds of overall PV expansion in 2022. However, these rising deployments further expand solar PV waste globally & pose a significant environmental challenge. These challenges are creating an unprecedented demand for the solar panel recycling market in recent years to reduce the environmental impact of renewable resources in the forthcoming years.

Global Solar Panel Recycling Market Opportunity:

Increasing Volume of End-of-life Solar Panels Across Globe – 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.

Global Solar Panel Recycling Market Challenge:

Lack of Standardization to Impede the Market Growth – The solar panel recycling industry is facing a lack of standardization, owing to the diverse panel types & compositions, lack of regulatory frameworks, etc. This could make recycling practices inconsistent & less efficient. Without clear guidelines, there might be variation in the handling, collection, and treatment of end-of-life panels, leading to inefficiencies & potential environment.

Moreover, the absence of a standardization recycling process leads to inconsistencies in the collection of solar panels handled & treated at the end of their life cycle. In addition, different recycling facilities might adopt different methods, technologies, and quality control measures, resulting in variations in recycling efficiency, environmental impact, and the recovery of valuable materials. Thus, a lack of consistency could impede the overall growth of the Global Solar Panel Recycling Market in the coming years.

Global Solar Panel Recycling Market Trend:

Surging Investment in Renewable Energy Sources to Lower Carbon Emission – To achieve a sustainable & low-carbon environment, vendors are increasingly integrating renewable energy resources into their businesses, thus becoming a trend in the Solar Panel Recycling Market. Solar PV & wind power systems have undergone substantial cost reduction, resulting in their widespread adoption & rapid growth within the global energy mix.

Additionally, renewable energy resources are expected to play a considerable role in meeting energy demand across various sectors, including heat, transpiration, and electricity. 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.

Global Solar Panel Recycling Market (2024-30): Segmentation Analysis

The Global Solar Panel Recycling Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2024-30 at the global, regional, and national levels. Based on the analysis, the market has been further classified as:

Based on 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.

Based on 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.

Global Solar Panel Recycling Market Regional Projection:

Geographically, the Global Solar Panel Recycling Market expands across:

  • North America
  • South America
  • Europe
  • Asia-Pacific
  • Rest of the World

Asia-Pacific is expected to witness significant growth in the Solar Panel Recycling Market in the upcoming years due to the large & growing solar energy market. Developing countries in the region, such as India & Southeast Asian countries, are rising their solar energy capacities, owing to government support leading to a future surge in end-of-life solar panels. This creates opportunities for recycling companies & technology providers to expand their operations & cater to the growing demand for solar panel recycling services across the region.

In addition, China alone manufactures around 45% of the solar panels globally. Also, in 2021, China started PV recycling & safety disposal research programs, which are further anticipated to escalate the Solar Panel Recycling Market growth in the forecast years.

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  3. Global Solar Panel Recycling Market report aids in assessing and mitigating risks associated with entering or operating in the market.
  4. The report would help in understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks and optimize their operations.

Frequently Asked Questions

   A. The Solar Panel Recycling Market is expected to grow at a CAGR of around 12.45% during 2024-30.

   A. The growing utility-scale PV projects is expected to drive the Solar Panel Recycling Market during 2024-30.

   A. 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 are the top players in the Solar Panel Recycling Market.

   A. Thermal Process is the leading segment in the Solar Panel Recycling Market, which is predicted to be the most dominant in the future years.

   A. Asia-Pacific would present growth prospects in the Solar Panel Recycling Market during 2024-30.

   A. The surging investment in renewable energy sources to lower carbon emission are the key trends shaping the growth of the Solar Panel Recycling Market.

   A. The increasing volume of end-of-life solar panels is the growth opportunity expected push the Solar Panel Recycling Market growth through 2030.

   A. The lack of standardization are the possible restraints affecting the growth of the Solar Panel Recycling Market.

Global Solar Panel Recycling Market Research Report (2024-2030) - Table of Contents

 

  1. Market Segmentation
  2. Introduction
    1. Market Definition
    2. Research Process
    3. Assumptions
  3. Global Macroeconomic Outlook, 2019-2030F
  4. Global Solar PV Industry Outlook, 2024
    1. Current Scenario
      1. Total Solar PV Installed Capacity, By Region, 2018-2022
      2. Solar PV Power Generation in the Net Zero Scenario, 2010-2030
      3.  By Region
        1. North America
        2. Latin America
        3. Europe
        4. Middle East
        5. Africa
        6. Asia Pacific
      4. Technology deployment & Innovation
      5. Global Collaboration Programs for Photovoltaic Power Systems Technology
    2. Future Scope
      1. Upcoming Solar PV Projects, 2022
      2. Government Policy Support for Solar PV, By Top Countries
        1. EU Nations
        2. China
        3. The US
        4. India
        5. Brazil
        6. Japan
        7. Others
  5. Global Solar Panel Recycling Market Supply Chain Analysis
  6. Global Solar Panel Recycling Market Policies, Regulations, Product Standards
  7. Global Solar Panel Recycling Market Trends & Insight
  8. Global Solar Panel Recycling Market Dynamics
    1. Growth Drivers
    2. Challenges
    3. Impact Analysis
  9. Global Solar Panel Recycling Market Hotspots & Opportunities
  10. Global Solar Panel Recycling Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenue (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Analysis
      1. By Process
        1. Thermal- Market Size & Forecast 2019-2030, (USD Million)
        2. Mechanical- Market Size & Forecast 2019-2030, (USD Million)
        3. Laser- Market Size & Forecast 2019-2030, (USD Million)
      2. By Type
        1. Crystalline Silicon- Market Size & Forecast 2019-2030, (USD Million)
        2. Thin Film- Market Size & Forecast 2019-2030, (USD Million)
      3. By End User
        1. Residential- Market Size & Forecast 2019-2030, (USD Million)
        2. Commercial & Industrial- Market Size & Forecast 2019-2030, (USD Million)
        3. Power Utility- Market Size & Forecast 2019-2030, (USD Million)
      4. By Service Providers
        1. OEMs- Market Size & Forecast 2019-2030, (USD Million)
        2. In house Recycling- Market Size & Forecast 2019-2030, (USD Million)
      5. By Region
        1. North America
        2. South America
        3. Europe
        4. Asia-Pacific
        5. Rest of the World
      6. By Company
        1. Market Share & Analysis
        2. Competition Characteristics
  11. North America Solar Panel Recycling Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenue (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Analysis
      1. By Process- Market Size & Forecast 2019-2030, (USD Million)
      2. By Type- Market Size & Forecast 2019-2030, (USD Million)
      3. By End User- Market Size & Forecast 2019-2030, (USD Million)
      4. By Service Provider- Market Size & Forecast 2019-2030, (USD Million)
    3. By Country
      1. The US
      2. Canada
      3. Mexico
    4. The US Solar Panel Recycling Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type - Market Size & Forecast 2019-2030, (USD Million)
        2. By End User- Market Size & Forecast 2019-2030, (USD Million)
    5. Canada Solar Panel Recycling Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type - Market Size & Forecast 2019-2030, (USD Million)
        2. By End User- Market Size & Forecast 2019-2030, (USD Million)
    6. Mexico Solar Panel Recycling Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type - Market Size & Forecast 2019-2030, (USD Million)
        2. By End User- Market Size & Forecast 2019-2030, (USD Million)
  12. South America Solar Panel Recycling Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Analysis
      1. By Process- Market Size & Forecast 2019-2030, (USD Million)
      2. By Type- Market Size & Forecast 2019-2030, (USD Million)
      3. By End User- Market Size & Forecast 2019-2030, (USD Million)
      4. By Service Provider- Market Size & Forecast 2019-2030, (USD Million)
    3. By Country
      1. Brazil
      2. Rest of South America
    4. Brazil Solar Panel Recycling Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type - Market Size & Forecast 2019-2030, (USD Million)
        2. By End User- Market Size & Forecast 2019-2030, (USD Million)
  13. Europe Solar Panel Recycling Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenue (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Analysis
      1. By Process- Market Size & Forecast 2019-2030, (USD Million)
      2. By Type- Market Size & Forecast 2019-2030, (USD Million)
      3. By End User- Market Size & Forecast 2019-2030, (USD Million)
      4. By Service Provider- Market Size & Forecast 2019-2030, (USD Million)
    3. By Country
      1. Germany
      2. The UK
      3. France
      4. Italy
      5. Spain
      6. Rest of Europe
    4. Germany Solar Panel Recycling Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type - Market Size & Forecast 2019-2030, (USD Million)
        2. By End User- Market Size & Forecast 2019-2030, (USD Million)
    5. The UK Solar Panel Recycling Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type - Market Size & Forecast 2019-2030, (USD Million)
        2. By End User- Market Size & Forecast 2019-2030, (USD Million)
    6. France Solar Panel Recycling Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type - Market Size & Forecast 2019-2030, (USD Million)
        2. By End User- Market Size & Forecast 2019-2030, (USD Million)
    7. Italy Solar Panel Recycling Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type - Market Size & Forecast 2019-2030, (USD Million)
        2. By End User- Market Size & Forecast 2019-2030, (USD Million)
    8. Spain Solar Panel Recycling Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type - Market Size & Forecast 2019-2030, (USD Million)
        2. By End User- Market Size & Forecast 2019-2030, (USD Million)
  14. Asia-Pacific Solar Panel Recycling Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenue (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Analysis
      1. By Process- Market Size & Forecast 2019-2030, (USD Million)
      2. By Type- Market Size & Forecast 2019-2030, (USD Million)
      3. By End User- Market Size & Forecast 2019-2030, (USD Million)
      4. By Service Provider- Market Size & Forecast 2019-2030, (USD Million)
    3. By Country
      1. China
      2. Japan
      3. India
      4. South Korea
      5. Australia
      6. Rest of Asia-Pacific
    4. China Solar Panel Recycling Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type - Market Size & Forecast 2019-2030, (USD Million)
        2. By End User- Market Size & Forecast 2019-2030, (USD Million)
    5. Japan Solar Panel Recycling Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type - Market Size & Forecast 2019-2030, (USD Million)
        2. By End User- Market Size & Forecast 2019-2030, (USD Million)
    6. India Solar Panel Recycling Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type - Market Size & Forecast 2019-2030, (USD Million)
        2. By End User- Market Size & Forecast 2019-2030, (USD Million)
    7. South Korea Solar Panel Recycling Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million) By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type - Market Size & Forecast 2019-2030, (USD Million)
        2. By End User- Market Size & Forecast 2019-2030, (USD Million)
    8. Australia Solar Panel Recycling Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type - Market Size & Forecast 2019-2030, (USD Million)
        2. By End User- Market Size & Forecast 2019-2030, (USD Million)
  15. Competitive Outlook
    1. Company Profiles 
      1.  Trina Solar Co, Ltd.
        1. Business Description
        2. Facility Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. First Solar Inc.
        1. Business Description
        2. Facility Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. Sunpower Corporation
        1. Business Description
        2. Facility Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. Aurubis AG
        1. Business Description
        2. Facility Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. Canadian Solar
        1. Business Description
        2. Facility Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. Sharp Corporation
        1. Business Description
        2. Facility Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. Reiling Group
        1. Business Description
        2. Facility Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. Hanwha Group
        1. Business Description
        2. Facility Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      9. Silrec Corporation
        1. Business Description
        2. Facility Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      10. Cleanlites Recycling
        1. Business Description
        2. Facility Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      11. ROSI Solar
        1. Business Description
        2. Facility Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      12. Aerisoul Metal & Energy Corporation
        1. Business Description
        2. Facility Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      13. Others
  16. Disclaimer


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