Solar panel recycling comprises reuse of various heavy materials obtained from previously installed Photo Voltaic (PV) solar panels. These materials include silicon, glass, and variety of metals. Several processes such as thermal, laser, and mechanical are used in waste solar panel treatment. Monocrystalline, thine film, and polycrystalline are the major types of solar panels.
High Efficient and Cost-effective Panels
In 2016, monocrystalline solar panel segment accounted for 51.4% of the total market share. These panels are widely utilized due to their extended shelf life and greater heat tolerance and efficiency. The product is extremely preferred by the consumers due to its high efficiency therefore accounted largest share.
In 2016, thin film segment was estimated at USD 7.6 million and is expected to show substantial growth over the forecast period (from 2018 to 2025) due to its diverse characteristics. These panels are lightweight and have several properties such as higher flexibility and temperature resistance. Cost-effectiveness of these solar panels makes mass production possible, which is also likely to drive the segment in the coming years.
Market Overview
According to Grand View Research, Inc., the solar panel recycling market is likely to achieve USD 384.4 million by 2025. Growing demand for renewable energy sources owing to its minimum environmental effect can propel the market.
Rising number of installations of PV panels around the world is also likely to drive the market. Some of the leading companies in the market are Canadian Solar Inc.; Yingli Energy Co. Ltd; Silcontel; and First Solar.
French water and waste group Veolia has opened Europe's first recycling plant in Rousset, southern France, for solar panels and aims to build more in the years to come. The new plant has a contract with solar industry recycling organization, PV Cycle France, for recycling 1,300 tons of solar panels in 2018.
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