Solar PV Recycling Market Size - By Recyclable Material (Silver, Aluminum, Copper, Glass), By End Use (Residential, Commercial & Industrial, Utility), By Process & Forecast, 2025 - 2034

Solar PV Recycling Market Size

The global solar PV recycling market was valued at USD 492.8 million in 2024 and is set to grow at a CAGR of 19.7% from 2025 to 2034. Rising environmental imperatives to minimize the growing volume of solar PV waste will bolster the recycling infrastructure demand. PV panels typically have a lifespan of 25–30 years, and with installations dating back to the early 2000s now reaching end of life, accelerating waste volume generation, creating recycling techniques adoption.
 

Furthermore, more rigorous policies focusing on the environment, as well as heightened interests in sustainability are pushing industry stakeholders to adopt environmentally friendly practices and promote the goals of the circular economy. The WEEE Directive of the European Union, amended in 2012 and 2018, mandates the collection and recycling of electronic devices, including solar panels. This policy aids in the recovery of vital components such as silicon and silver, reducing waste and conserving ecological balance.
 

Technological advancements in recycling methods are also making the process more cost-effective and efficient. These developments, together with regulatory and environmental pressures, are anticipated to significantly contribute to the expansion of the solar panel recycling market in the years ahead. Companies are also investing in developing advanced technologies to accelerate the market growth. California Firm PV Circonomy provides a high-efficiency automated technology for recycling silicon PV panels in February 2025. They possess a recovery rate of 99.3% which allows them to recover EVA and glass which can be repurposed in other industries.
 

The solar industry’s growing dependence on the critical elements indium, silver, and high-purity silicon, all of which are considered rare and area specific, is expected to advance changes toward recycling initiatives. At the same time, supply chain problems along with increasing geopolitical conflicts have heightened worries about the availability of these materials. By decreasing reliance on raw material imports and recovering critical secondary raw materials, domestic resource dependence increases, strengthening national resource security while simultaneously improving business metrics.
 

The Trump-era solar tariffs, imposed on imported photovoltaic modules, indirectly influenced solar PV recycling by increasing the cost of new panels. The increase in the cost of new panels led to an increased effort by some stakeholders to extend the life of systems that had already been installed and consider recycling as a cheaper option than replacing the systems entirely. Moreover, the tariffs stimulated interest in domestic solar panel manufacturing which increased the need for buying local recycling facilities to sustainably manage the production and post-consumer waste.
 

Solar PV Recycling Market Trends

• The global growth of solar energy installations is directly correlated with the growing number of solar panels reaching the end of their operational life. In 2023 alone, the solar photovoltaic industry observed further enhancement of around 447 gigawatts of new solar energy capacity. There is a considerable gap between the effective life span of a solar panel and the useful life of its components, which escalates demand for effective recycling methodologies for recovering reusable resources.
   
• Leading solar manufacturers are beginning to design panels with end-of-life recovery in mind concept known as Design for Recycling (DfR). This is fostering a circular manufacturing model, where recycled materials are reintegrated into new products. Such integration not only reduces environmental impact but also stabilizes raw material costs and creates long-term economic value.
   
• Increasing the important industry players’ investments in establishing recycling facilities in the emerging regions will add value to the industry landscape. Solarcycle made an announcement in October 2024 stating that it will build a 5GW solar panel recycling facility in Georgia. The plant, which will cover an area of 255,000 square feet, is expected to process ten million solar panels every year, which is approximately 25-30% of the solar panels that will be retiring in the U.S. by 2030.
   
• Furthermore, the increasing government contracts alongside the initiatives aimed at supporting businesses with developed recycling frameworks are promoting PV recycling as a competitive edge, thus enhancing its market growth potential as compared to simply meeting regulatory compliance.
   

Solar PV Recycling Market Analysis

• The solar PV recycling industry was valued at USD 472.6 million, USD 481.5 million and USD 492.8 million in 2022, 2023 and 2024 respectively. The industry is segmented into silver, aluminum, copper, glass and others based on recyclable material.
   
• The silver segment will exceed USD 1.1 billion by 2034, due to its superior electrical conductivity and high material cost. Growing researchers' R&D activities for material extraction will propel the recycling of silver. In September 2022, Researchers at the University of Leicester developed a method to extract silver and aluminum from end-of-life PV cells using iron and aluminum chlorides in brine. This process recovers up to 95% of the metals in 10 minutes, achieving 98% purity of silver chloride.
   
• The segment focusing on aluminum is predicted to expand at an even greater level of 20% due to its ease of recycling, as it uses only 5% of the energy required to produce ‘new’ aluminum from raw ore, which is advantageous both economically and environmentally. Moreover, with the constant changes in aluminum pricing and the emergence of sustainability as an important factor, the retrieval of aluminum from retired PV modules offers financial benefits and decreases environmental impact. The simplicity in its separation during mechanical recycling processes also makes aluminum an appealing target for PV recyclers.
   
• The copper segment holds a market share of 17.3% in 2024 due to its high economic value, growing material scarcity, and crucial role in renewable energy infrastructure. Ongoing researchers focus on adopting new methods for copper extraction from solar PV will improve the recycling plants deployment. Additionally, environmental regulations promoting circular economy practices and the need to reduce mining impacts are accelerating investment in solar PV recycling technologies.
   
• The glass category is expected to grow at a faster rate of 18.8%. Its significant weight in the module composition (up to 75% by weight) as well as its economic and environmental contributions boosts market growth. Rising number of panels reaching end-of-life is also contributing to increased glass waste. Recycling reduces raw material expenditures, such as silica and soda ash, decreases energy consumption compared to new glass production, and mitigates landfill space use, which improves industry prospects.

• The solar PV recycling market is divided into residential, commercial & industrial and utility based on end use. The utility sector has a market share of 48.4% as of 2024 due to its large-scale deployment and significant material volume. A significant volume of waste is expected as preliminary utility projects near their life cycle, necessitating effective recycling methods. Regulatory mandates and decommissioning requirements for large solar farms further push utilities to adopt sustainable disposal methods.
   
• The commercial & industrial segment is likely to expand at a CAGR of over 21.6% till 20234 on account of businesses seeking sustainable ways to manage aging solar systems and meet corporate environmental goals. Increasing adoption of rooftops and ground-mounted solar by commercial facilities will also improve the volume of end-of-life modules, creating demand for recycling infrastructure. According to the research publications, the commercial and industrial sectors are expected to capture more than a 20.5% share in the solar PV deployment for the year 2024. This figure is poised to improve dramatically during the subsequent periods, stimulating investments in recycling plant infrastructure.
   
• The residential segment is expected to reach more than USD 801 million by 2034 on account of heightened environmental consciousness among homeowners and their efforts towards sustainable waste management. Government incentives and regulations around electronic and hazardous waste further encourage proper recycling. Moreover, the inclusion of recycling in residential solar program deployments further improves the eco-friendliness of residential power systems and supports the scope of the transitions towards low-carbon energy, reinforcing the business trend.

• As of 2024, North America holds more than 20% share of the solar PV recycling market, which is expected to improve further by 2034. The U.S. market was valued at USD 90.9 million, 93 million, and 95.6 million in 2022, 2023 and 2024 respectively.
   
• In the U.S., the increasing number of aging installations reaching their end-of-life, especially from early utility-scale projects, is encouraging utilities and asset owners to look for sustainable decommissioning options, thus altering the market landscape. Furthermore, the region’s newer companies willing to allocate financial resources to build a new recycling plant will also improve the industrial outlook.” As reported in April 2025, OnePlanet, a recovering materials company located in the U.S, secured $7 million in a seed funding round from Khasma Capital with intention of expanding its solar module recycling plant located in Florida.
   
• In Asia Pacific solar PV recycling market is predicted to hit USD 1,120 million by 2034. The region's swift adoption of solar energy, driven in part by China, India, and Japan is dramatically heightening the number of decommissioned panels being processed, requiring effective recycling strategies. Businesses focusing on the setup of recycling plants in the area will increase economic activities. Dynamic Industry Corp. rolled out solar panel recycling services in India in December 2024 as part of their renewable energy waste strategy, aimed at expanding towards the anticipated 595,000 tons of solar waste in India by 2050.
   
• The Europe solar PV recycling market is expected to register at a 18.6% CAGR till 2034, driven by vigorous regulatory enforcement, particularly the WEEE Directive, which requires the recycling of out-of-service photovoltaic modules. Advancements in recycling technologies have enhanced process efficiency and cost-effectiveness, making recycling more viable. Furthermore, EU member governments are also adopting legislation to actively promote private investment, which supports infrastructure construction, drawing a deeper commitment from Europe on green energy sustainability, strengthening the industry’s statistics.
   

Solar PV Recycling Market Share

• Top four players, including Canadian Solar, First Solar, Solarcycle and Trina Solar account for nearly 36.1% of the solar PV recycling industry. Companies are investing in advanced, cost-effective recycling technologies to recover high-value materials such as silicon, silver, and copper. These technological advancements not only improve profitability but also ensure compliance with environmental regulations.
   
• The strategic partnerships and collaborations with solar panel producers, waste management companies, and government institutions are also becoming increasingly common. These partnerships aid in the optimization of the collection procedure and ensure a steady supply of feedstock for the recycling plants. In addition, companies are utilizing information technology along with IoT-enabled devices to manage the lifecycle of solar panels, ensuring prompt retrieval at the end of their useful life.
   

Solar PV Recycling Market Companies

• First Solar Inc. reported a net revenue of USD 1.5 million for the fourth quarter and USD 4.2 million for 2024. The company’s flexible Recycling Service Agreements allow customers to opt for modular recycling services, ranging from provision to decommissioning. These agreements are economical, adaptable, and accessible worldwide, guaranteeing responsible management of solar modules after their lifecycle.
   
• Trina Solar has released its financial results for the first half of 2024, reporting total revenues of USD 6 billion and a net profit attributable to shareholders amounting to USD 74 million. In September 2024, the company announced the world’s first fully recycled crystalline silicon solar module. Its Research Center Academy had a breakthrough by recovering & reclaiming essential components from obsolete modules utilizing their unique recycling processes.
   

Eminent players operating in the Solar PV Recycling industry are:

• Aurubis
• Canadian Solar
• Echo Environmental
• First Solar
• Marubeni Corporation
• Reiling
• SILCONTEL
• Solarcycle
• SunPower Corporation
• Trina Solar
• Veolia 
• We Recycle Solar
   

Solar PV Recycling Industry News:

• In September 2024, First Solar, Inc., based in the U.S., has set new industry standards in ultra-low-carbon solar technology, advanced recycling, human rights practices, and transparent reporting. It stands as the leading solar manufacturer in the Western Hemisphere and the top global recycler of high-value solar panels.
   
• In February 2024, A Texas company, Solarcycle, will handle the recycling of decommissioned solar modules in the U.S. for the Korean-owned firm Qcells, one of the world’s growing solar manufacturers.
   

This solar PV recycling market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in “(USD Million)” from 2021 to 2034, for the following segments:

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Market, By Recyclable Material

• Silver
• Aluminum
• Copper
• Glass
• Others

Market, By End Use

• Residential
• Commercial & industrial
• Utility

Market, By Process

• Mechanical
• Thermal
• Laser

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • Italy
  • France
  • UK
• Asia Pacific
  • China
  • India
  • Japan
• Middle East & Africa
  • South Africa
  • UAE
• Latin America
  • Brazil
  • Chile