Solar Panel Recycling Market

The market for solar panel recycling management will exceed 360 million US-Dollar by 2024 according to a new research report by Global Market Insights, Inc.

Source: Global Market Insights

The market will be driven by increasing volume of decommissioned Photovoltaics (PV) panels coupled with strict laws to boost effective recycling. Huge untapped potential with stringent regulations to recycle increasing volumes of PV waste is set to propel the solar panel recycling management market size between 2016 to 2024. In the United States the Environment Protection Agency has laid down regulations referring to materials safety data sheets (MSDSs), toxics release inventory (TRI), resource conservations and recovery act (RCRA), California’s hazardous waste control law (HWCL) and toxicity characteristic leaching procedure (TCLP) standards. In 2015 the U.S. solar panel recycling management market was valued more than 5 million US-Dollar and is predicted to witness strong growth. In 2013, UK WEEE introduced regulations that aimed at reducing solar waste by mandating manufacturers to take back decommissioned PV panels for recycling. PV producers also need to register with Producer Compliance Scheme and update appropriate data sought by the government. The UK solar panel recycling management market share is expected to grow over 35 percent by 2024. China solar panel recycling management market size is expected to exceed 50 million US-Dollar between 2016 to 2024. Under the National High-tech R&D Program’s “PV Recycling and Safety Disposal Research”, specific laws and regulations will be introduced to tackle growing panel waste volumes.

For Middle East, the solar panel recycling management market share of United Arab Emirates is set to grow over 50 percent over the forecast period. The region will witness 5,000 tons of waste panels generated until 2024 subject to increasing adoption of alternate energy over conventional fuels. Mexico solar panel recycling management market size is predicted to surpass 3 million US-Dollar by 2024, subject to growing installations of PV panels in the region. An energy transition law passed in 2015, aiming to shift focus from fossil fuels to renewable energy sources, further complementing the industry outlook.

More information on the research report by Global Market Insights can be found under

Photo: pixabay

GR 22017