Chile solar panel recycling management market is expected to majorly drive the regional growth. Chile is anticipated to hold a volume of more than 45,000 tons of decommissioned solar panel waste, which makes it a lucrative market for panel recycling.
Polycrystalline solar cells possess excellent properties such as high efficiency and enhanced battery power. High adoption of sustainable energy resources coupled with the aforementioned properties will fuel solar panel recycling management market from polycrystalline cells, which is slated to cross USD 220 million by 2024.
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U.S. solar panel recycling management market size was valued over USD 5 million in 2015 and is predicted to witness strong growth owing to increasing adoption of PV panels coupled with stringent regulations towards recycling will further augment industry outlook.
For Europe, UK solar panel recycling management market share is expected to grow over 35% by 2024. In 2013, UK WEEE introduced regulations 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.
In Germany, the number of dismantled panels amounted to more than 75,000 tons in 2015. An exponential rise in the number of decommissioned panels annually, strict government norms, and the establishment of solar farms will propel Germany solar panel recycling management market, which is expected to cross USD 24 million by 2024.
The tremendous surge in the adoption of solar panels, thanks to government initiatives, will fuel solar panel recycling management market. The increase in the number of solar panel installations indicate an equal increase in the number of decommissioned panels, which in turn will drive the industry trends. Most companies nowadays are also intent on establishing newer recycling facilities to encourage the green revolution, further stimulating solar panel recycling management market. For instance, recently, Veolia Environnement S.A., the French environmental solutions provider, announced its plan about implementing a new solar module recycling facility at Rousset, south of France, for recycling decommissioned solar modules.
Solar panels can suffer normal losses or early losses. In case of the former, the panels function until the end of their shelf life, after which they are decommissioned, accumulated, and recycled. Solar panel recycling management market share from normal losses is expected to cross USD 300 million by 2024. When solar panels cease to function efficiently due to maintenance issues, technical problems, and unfavorable weather conditions, they are said to suffer early losses, in which case, they are decommissioned earlier than their usual shelf life and then recycled. Solar panel recycling management market from early losses is said to grow at a CAGR of 35% over 2016-2024.
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Solar panels can be recycled by means of thermal, laser, and mechanical processes. The mechanical recycling process is deemed to be one of the safest, owing to which solar panel recycling management industry share from mechanical process will surpass USD 300 million by 2024. Solar panel recycling by thermal process places a strain on the environment due to the presence of excess silicon in the panels. However, with companies striving to innovate environment-friendly thermal procedures, solar panel recycling management industry from thermal process, worth more than USD 1 million in 2015, will grow substantially over 2016-2024.
Thin-film PV cells are extensively adopted for solar panels subject to their excellent quality and affordability, which will in turn, fuel thin film solar cells industry over 2016-2024. Increasing adoption rate of these cells coupled with their most favorable property of longer shelf life will also drive solar panel recycling management market from thin film PV cells, which is anticipated to witness a y-o-y growth rate of more than 40% over 2016-2024.
High volume of decommissioned solar panels in the U.S. (30,000 tons in 2016) and rising adoption of solar panels will drive U.S. solar panel recycling management market size over the next seven years, which was worth more than USD 5 million in 2015.
Table of content for this research report:
Chapter 6 Solar Panel Recycling Management Market, By Shelf Life
6.1 Solar Panel Recycling Management market share by shelf life, 2015 & 2024
6.2 Early Loss
6.2.1 Early Loss solar panel recycling management market, 2013 – 2024
6.2.2 Early Loss solar panel recycling management market, by region, 2013 – 2024
6.3 Normal Loss
6.3.1 Normal Loss solar panel recycling management market, 2013 – 2024
6.3.2 Normal Loss solar panel recycling management market, by region, 2013 – 2024
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Solar energy is one of the most widely-adopted renewable energy sources globally. The increasing implementation of solar panels, government directives regarding waste disposal, and the increase in the number of decommissioned panels will significantly propel solar panel recycling management industry over the years to come.
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