Impact of COVID-19 on Solar Panel Recycling Market : Implications on Business

COVID-19 Impacts Global Solar Supply Chain as Companies Consider Alternate Sourcing Avenues

The COVID-19 (coronavirus) outbreak has resulted in a slowdown of the global solar panel recycling market. China with the highest number of PV installations as well as production of solar PV panels is also expected to suffer. This phenomenon is anticipated to impact the global solar supply chain.

China is one of the leaders in renewable energy investment. However, the COVID-19 outbreak has paralyzed the power demand and generation, which could retard the growth of China’s solar panel recycling market. Moreover, the country is witnessing a wave of low capacity additions due to suspended manufacturing and construction works. As such, the market for solar panel recycling is estimated to reach an output of ~894,000 tons by 2027. Hence, companies in market landscape are considering for alternative sourcing avenues to stay afloat in the market.

Request PDF Brochure :

Solar Panel Recycling Activities Surge in U.S. to Manage End-of-Life Solar Panels

An increased number of end-of-life solar panels are creating a demand for recycling activities in the U.S. Moreover, analysts of Transparency Market Research (TMR) opine that the U.S. is anticipated to account for the highest number of end-of-life solar panels in the upcoming decades after China. Hence, companies in the solar panel recycling market are focusing on value-grab opportunities in the U.S. As such, the market is estimated to reach a value of ~US$ 600 Mn by the end of 2027.

There is a growing demand for end-of-life solar panel management in the U.S. Likewise, California had taken the lead in the nation’s solar power generation in 2019. Hence, companies in the solar panel recycling market are increasing efforts to manage and recycle the waste generated from end-of-life solar panels. Prolonged period of technology development and addressing policies associated with the panels have led to increased solar panel recycling activities in the U.S.


Repurposing Silicon-based PV Cells Creates Revenue Opportunities in Battery Production

Researchers are exploring new ways to extract silicon from discarded solar panels to repurpose it into Nano-silicon for batteries in the solar panel recycling market. For instance, in October 2019, researchers at the Deakin’s Institute for Frontier Materials, Australia, revealed that they are unearthing new ways to obtain silicon from waste solar panels by Nano-sizing it for use in lithium-ion batteries. Such innovations are boosting the recycling of silicon-based photovoltaic (PV) cells. This explains why silicon-based products are estimated to dictate the highest revenue among all products in the market for solar panel recycling. Hence, companies in the solar panel recycling market should collaborate with material scientists to repurpose discarded solar cells.

Though silicon semiconductors have a relatively small amount of silicon in solar cells, the material’s value is extremely high. Hence, companies in the solar panel recycling market are increasing efforts to extract silicon from PV cells to prevent the high-value material from going to landfills.

Explore Transparency Market Research’s award-winning coverage of the global Industry:

Novel Mechanical and Thermal Processes Accelerating Recycling Rates in Asia Pacific

Companies in the solar panel recycling market have established strong business grounds in Asia Pacific. This is evident since this market in Asia Pacific is predicted to generate second-highest revenue. However, inadequate laws pertaining to solar panel recycling act as a barrier for market growth.

The Asia Pacific solar panel recycling market is one of the fastest-growing sectors worldwide. However, without concrete laws that ensure recycling of decommissioned panels, the region could be drowning in hazardous waste in the coming decades. Since solar panel recycling is still very expensive, research scientists are experimenting with new recycling processes. For instance, research scientist Dr. Li Xiaodong revealed that researchers at Singapore Polytechnic research institute are experimenting with new ways of recycling processes involving mechanical, chemical, and thermal treatment sans the need for harmful acids. These new methods are accelerating the recycling rates whilst companies can collaborate with researchers to gain competitive edge in the market landscape.

new solar panel recycling market segmentation

About Us:

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.