Renewable energy boom brightens outlook for solar panel recyclers

The global solar panel recycling market is projected to reach US$ 931 million (EUR 863) by 2029. This is up from US$ 385 million in 2024, representing 19.3% compound annual growth.

The solar panel recycling market is poised for ‘substantial growth’ in the foreseeable future, according to a new study by Markets & Markets. Momentum is driven by the transition to more sustainable energy. Moving away from fossil fuels has resulted in an exponential increase in solar panel installations worldwide, notably in China.

One of the primary drivers propelling market growth is the tightening of environmental regulations and the growing commitment of governments to recycling. A recent example is the European Union’s Waste Electrical and Electronic Equipment (WEEE) Directive, which mandates the collection and recycling of electronic waste

Similarly, countries like Japan and South Korea have enacted legislation to promote the recycling of solar panels, further stimulating market growth.

Ten major companies operating in the solar panel recycling arena are detailed in the report, namely:

• First Solar (US)
• Reiling GmbH & Co.KG (Germany)
• The Retrofit Companies, Inc.  (US)
• Rinovasol Global Services B. V. (Netherlands)
• We Recycle Solar (US)
• ROSI (France)
• SILCONTEL LTD (Israel)
• Etavolt Pte. Ltd. (Singapore)
• PV Industries Pty Ltd (Australia)
• Solarcycle, Inc. (US)