The solar panel recycling market will rise from $80.7 million in 2017 to $269.8 million in 2023.
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.
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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.
GLOBAL SOLAR PANEL RECYCLING MARKET
- By Process
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- By Type
- Thin Film
- By Shelf Life
- Normal Loss
- Early Loss
- By Region
- North America
- Central & South America
- Middle East and Africa