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.
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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.
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.
Read more: https://www.psmarketresearch.com/market-analysis/solar-panel-recycling-market
