The solar panel entail hazardous materials, likewise silicon, silver, aluminium, copper, gallium, lead, and cadmium. Their growing installation around the globe has propelled the requirement for recycling to decrease the waste generation. Solar panel recycling comprises activities fluctuating from decommissioning to collection and sorting. It safeguards the release of hazardous substances from waste streams and diminishes the greenhouse (GHG) gas emissions of photovoltaic (PV) modules. Presently, countless manufacturers are cleansing recovered materials to usage in new panels or other components such as glass foam.
According to the report analysis, ‘Global Solar Panel Recycling Market 2020-2027 by Process (Mechanical, Thermal, Laser, Chemical), Panel Type (Monocrystalline, Polycrystalline, Thin Film), Shelf Life (Early Loss, Normal Loss), and Region: Trend Outlook and Growth Opportunity’ states that global solar panel recycling market is augmenting more actively during the review duration owing to the effective growth in demand for clean energy on account of environmental protection, increasing implementation of solar power as a renewable source of energy, and growing assistance of the government toward the sustainable improvement.
The service merchants aim on the technological improvement and advancements in the solar panel recycling mechanisms. Such innovation coupled with the viable pricing are predicted to aid in increasing the market share over the near future. Not only has this, several key players are effectively investment in the research and development to strengthen their market share and positions. Canadian Solar Inc., EIKI SHOJI Co. Ltd., First Solar Inc., Interco Trading Inc., PV Cycle a.i.s.b.l., Reclaim PV Recycling Pty Ltd., Reiling GmbH & Co. KG, REMA PV System AS, Rinovasol GMBH, Sharp Corporation, Silcontel Ltd., SunPower Corporation, Trina Solar Co., Ltd., Yingli Energy Co. Ltd., and many more are the key companies which recently operating in the global solar panel recycling market more actively for leading the highest market growth and registering the great value of market share around the globe during the review duration.
Although, the solar panel recycling segment has been seriously damaged in recent months as a result of the mainstream of countries’ lockdowns. Since the pandemic’s emergence during December 2019, such lockdowns have resulted in the temporary closure of industrial and recycling industries. In addition, several countries have experienced curfew-like situation in which enterprises other than important services were not permitted to operate. This has had an effect on the requirement for solar panels as well as their recycling. Many governments, however, have begun to comfort the lockdowns in order to reinstate the country’s economic conditions. As a result, requirement for solar panels is projected to augment during the coming months.
The renewable energy sector’s robust value, together with augmented investments in solar power generation, is predicted to fuel the augment of the solar panel recycling market over the assessment duration. Investments are projected to flow into cutting-edge solar technologies, generating the growth prospects for market participants. Furthermore, the speedy growth of PV installations has resulted in an augment in the number of decommissioned PV panels. This, in turn, is projected to accelerate the enlargement of the solar panel recycling industry during the near future.
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North America Solar Panel Recycling Market 2020-2027 by Process (Mechanical, Thermal, Laser, Chemical), Panel Type (Monocrystalline, Polycrystalline, Thin Film), Shelf Life (Early Loss, Normal Loss), and Country: Trend Outlook and Growth Opportunity
Ankur Gupta, Head Marketing & Communications