The global solar panel recycling industry will be worth over EUR 530 million by the end of 2027, according to new market data.
Analysts at Transparency Market Research anticipate 37% growth during the forcast period 2019-2027. The projected substantial growth in the solar panel recycling market in Europe is because of the high number of PV modules already installed in the region. For a further overview see the graph below:
Considering individual product types, the silicon-based photovoltaic (PV) segment took the lion’s share of the global solar panel recycling market in 2018. In terms of material, glass had the biggest share of the recycling market that year. Glass is the most widely used material in a solar module and up to 95% of it can be recycled.
According to the International Energy Agency, solar PV generation increased by 31% in 2018. This represents the largest growth of all renewable technologies, marginally ahead of wind and hydropower.
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