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 treatment of solar panel. Self-life of the product can be classified into early loss and normal loss.
High Efficient and Cost-effective Panels
Based on type, solar panel are classified into monocrystalline, thine film, and polycrystalline. In 2016, monocrystalline solar panel segment estimate for 51.4% of total share. These panels are widely utilized due to its extended shelf life, greater heat tolerance, and high efficiency. These panels consist of uniform color and are good looking. 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 demand over the forecast period (2014 to 2025). This growth can be attributed to its diverse characteristics. Increasing research and development (R&D) activities has imposed to evaluate innovative thin film solar panels. This solar panel encompasses several properties like flexibility, temperature resistance, and light weight. The cost-effectiveness of this product makes mass production possible, which could drive the segment in the coming years.
Market Overview
According to Grand View Research, Inc., the worldwide Solar Panel Recycling Market is likely to achieve USD 384.4 million by 2025. Increasing implementation of renewable energy sources owing to its minimum environmental effect can propel the market. Energy disaster as well as growing environmental concerns due to excess use of traditional energy sources like fossil fuel and nuclear energy is anticipated to increase product demand. Rising installation of PV around the world is a major driving factor for the market. Additionally, several strict guidelines and certifications of the government for waste treatment of solar panel can have a positive impact on the market.
Some of the leading venders operating in the market Canadian Solar Inc.; Yingli Energy Co. Ltd; Silcontel; and First Solar.
In-Depth Research Report On Solar Panel Recycling Market:
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