Feb 10, 2023
The global solar panel recycling market is valued at $138.2 million and is projected to grow at a CAGR of 10.4% from 2023 to 2033. The Inflation Reduction Act is expected to boost the growth of the solar industry, but decommissioned panels have historically been disposed in landfills. However, 95% of the materials in these panels can be recycled, leading to the development of solar panel recycling technology. With millions of panels installed in homes across the US and the rapid growth of solar power, it's crucial that recycling efforts be scaled up quickly to ensure the industry's sustainability.
The Future of Solar Panel Recycling: Cost-Savings, Efficient Technology, and Government Support
With the rise in energy costs and the advancements in recycling technology, the future of solar panel recycling is looking bright. Government regulations are also playing a crucial role in promoting sustainability and reducing waste. The recycling of decommissioned solar panels not only saves money for operators but also addresses supply chain issues and supports the growth of the solar industry.
The Department of Energy's Advanced Manufacturing Office has recently awarded a grant to researchers at Arizona State University to develop a more efficient and cost-effective recycling process for solar panels. This process aims to recover valuable materials like silver and silicon, which are crucial components of solar panels. With the support of government and technology, the solar panel recycling industry is poised for growth and success.
Forecasts by Product (Silicon Based PV, Thin Film PV, Other), by Waste Type (PV-Infant Failure Waste, PV-Midlife Failure Waste, PV-Wear-out Failure Waste, Other), by Process (Thermal Process, Mechanical Process, Chemical Process, Hybrid Process, Laser Process), by Material (PV Glass Material, PV Plastic Material, PV Aluminum Material, PV Silicon Material, PV Metal Material, Other) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern AnalysisDownload free sample pages
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