Market Reaserch Forecasts the Solar PV Recycling Market at 1,098,282 Tons by 2035
Rockville, MD, /Marketwire - MarketResearch.com has announced the addition of the new report “Solar Module Recycling - A Necessary Step to Maximize Environmental Benefits of Solar PV Industry” to their collection of Energy market reports. For more information, visit http://www.marketresearch.com/GlobalData-v3648/Solar-Module-Recycling-Necessary-Step-6748827/
The global solar PV market has witnessed tremendous growth over the past decade, with cumulative installed capacity growing from 1,459 Megawatt (MW) in 2000 to 40,758 MW in the year 2010. This represented a Compound Annual Growth Rate (CAGR) of 40% during this period. This increase in installed capacity mainly came from increased installation activity in countries such as Germany, Italy, Czech Republic, France, the US and Japan. The prime reason for the remarkable growth of the global solar PV market has been the supportive mechanisms offered by governments across the world. The market stimulation packages that several governments have offered are expected to drive the growth of the industry in the coming decade.
With the annual number of solar Photovoltaics (PV) installations rising, there is a growing need for processing PV waste in the coming years. The waste generated by end-of-life modules in 2025 is expected to be approximately 24,855 tons. This waste is expected to further increase to 1,161,173 tons by 2035. Crystalline modules will account for the majority of solar PV waste generated during this period, rising from 19,475 tons of waste generated in 2025, to 1,098,282 tons by 2035. Against this backdrop, PV recycling will become an emerging market during these 15 years.
For a watt of PV module treated in the recycling unit, $0.58 in recycled value is expected to be generated in 2025. With a 100% collection rate, 278 MW of end-of-life modules are expected to be recycled in 2025. Due to the rising trend of annual installations during the period from 2000 to 2010, it is expected that the end-of-life modules will increase to 17,000 MW by 2035, whilst the per watt recycled product value of these modules is expected to reach $1.21. The major factors driving this trend are the rising annual installation trends during 2000-2010, the expected increase in recycling rates of module materials, as well as the market price variations of these materials.
For more information, visit http://www.marketresearch.com/GlobalData-v3648/Solar-Module-Recycling-Necessary-Step-6748827/
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