Solar Panel Recycling Management Market Size

Solar Panel Recycling Management Market Size

Solar Panel Recycling Management Market size estimated at USD 20 million in 2015 and is set to witness growth at over 35% from 2016 to 2024.
 

Growing adoption of alternate energy coupled with increasing number of decommissioned panels will drive the global solar panel recycling management market. In Germany, the total volume of decommissioned panels was exceeding 75,000 tons in 2015 as against more than 50,000 tons in 2010. Increasing number of solar farms coupled with stringent government regulations towards effective waste disposal and recycling will drive the market share over forecast timeframe. In 2016, the cumulative mass of installed panels was more than 4 million tons.
 

Strict regulations to control the growing number of panel waste will stimulate the market value during forecast period. In 2012, the Waste Electrical and Electronic Equipment (WEEE) Directive 2012/19/EU stipulated that PV system manufacturers must take up the responsibility to efficiently recycle decommissioned systems and effectively dispose electronic waste.
 

PV Cycle (PVC) is a pan-European initiative boost the investments made for setting up PV panel recycling units in a public private partnership model. As per the model, there will be proactive participation from local governments and private investors willing to invest in the industry. The WEEE has introduced two financing approaches including individual pre-funding and contractual agreements.