Solar Panel Recycling Market size was valued at USD 1.87 billion in 2024 and is set to exceed USD 118.54 billion by 2037, expanding at over 37.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of solar panel recycling is estimated at USD 2.43 billion.
The reason behind the growth is impelled by the increasing utilization of solar power globally. Small-scale solar photovoltaic (PV) systems are the most popular type of solar installation and are typically installed on rooftops.
Moreover, large-scale solar PV and solar energy projects can contribute to a decrease in the usage of fossil fuels and can aid in lowering the overall energy bill. These factors are expected to significantly drive market growth. According to estimates, solar energy accounted for more than 4% of all energy consumed globally in 2021.
The growing technological advancements are believed to fuel the market growth. For instance, Researchers at Arizona State University are developing a novel recycling method that effectively removes silicon and silver from solar panels using chemicals. Similarly, several novel recycling techniques are being tested by the U.S. recycling startup TG Companies and researchers in Australia.
Author Credits: Dhruv Bhatia
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