Solar Panel Recycling Market Size, Share, Growth and Future Analysis

1. Solar Panel Recycling: Crucial Step toward Sustainable Development 1 ©P&SIntelligence.Allrightsreserved

2. Solar panels are made up of aluminum, silicon, glass, and synthetic materials, which can be separated through the recycling process, after the completion of the lifecycle of the panels. These panels are installed in several residential and commercial facilities, to offer electricity by using solar power. Their installation has escalated in recent years due to the depletion of fossil fuel reserves, a surge in the consciousness regarding environment preservation, and escalation in the power demand. Moreover, favorable government regulations regarding sustainable development have led to the widespread adoption and recycling of these panels. Download report sample at: https://www.psmarketresearch.com/market-analysis/solar-panel- recycling-market/report-sample Thus, the growth in the number of recycling plants is primarily driven by the increasing focus on sustainable development, which refers to the optimum use of resources, so that they are available for the current and future generations, while curtailing the environmental hazards. Due to this rising consciousness, the recycling of solar panels and their components has increased significantly in recent years. This factor will propel the solar panel recycling market at a CAGR of 22.0% during 2018–2023 (forecast period). At this rate, the value of the market will rise from $80.7 million in 2017 to $269.8 million in 2023. Owing to the widespread installation of solar panels, especially in emerging economies, the quantity of e-waste is expected to increase in the coming years. This waste needs to be recycled to reduce the environmental hazards and obtain the constituent parts of the photovoltaic (PV) panels and systems, which can be reused in the manufacturing of other products. To deal with the increasing waste quantities, Yingli Green Energy Holding Company Limited, Reiling GmbH & Co. KG, ECS Refining LLC, and Silcontel Ltd. are establishing numerous recycling plants. Currently, most of these solar panel recycling plants are adopting the mechanical process for recycling polycrystalline, monocrystalline, and thin-film panels. This is because the mechanical process is more efficient and environmentally safer than the thermal and laser techniques. These plants are recycling more thin-film solar panels every year, due to the rapidly rising installation of these panels on account of their low weight, flexibility, and temperature resistance, though monocrystalline panels still account for the highest overall recycling rate. The shelf life segment of the solar panel recycling market is categorized into normal loss and early loss. The average age of solar panels is 30 years; however, some may suffer an early loss, which results in the generation of a large quantity of e-waste containing harmful substances. During the historical period (2013–2017), the early loss category held the larger market share due to the early degradation of solar panels on account of unfavorable weather conditions, maintenance issues, and lack of product standardization. In 2017, Europe generated the highest revenue for the solar panel recycling

3. market, and it is projected to retain its dominance in the coming years. During the forecast period, the Asia-Pacific (APAC) market is expected to register the highest growth rate owing to the rising concerns about environmental sustainability and cost-effectiveness of solar panel recycling in the emerging economies of India and China. Moreover, the stringent government regulations regarding solar panel waste management and developments in technology are projected to fuel the market growth in the coming years. Browse full report at: https://www.psmarketresearch.com/market- analysis/solar-panel-recycling-market Thus, the surging adoption of solar power systems, escalating concerns regarding e-waste management, and growing consciousness about sustainable development are increasing the solar panel recycling rate. GLOBAL SOLAR PANEL RECYCLING MARKET By Process • oThermal oMechanical oLaser By Type • oMonocrystalline oPolycrystalline oThin Film By Shelf Life • oNormal Loss oEarly Loss By Region • oNorth America oEurope oAsia-Pacific oCentral & South America oMiddle East and Africa 3 © P&S Intelligence. All rights reserved

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