US Solar Panel Recycling Market Share 2024, Revenue, Emerging Trends, Challenges, Growth Strategy, Future Opportunities and Forecast Analysis 2033: SPER Market Research
The method of recycling solar panels involves removing usable parts from damaged panels so they can be used to create other products or applications. As the world’s reliance on solar energy has grown, so too has the management of recycling and disposing of solar panels that have reached the end of their useful lives. Typically, the recycling process begins with gathering used panels and moving them to approved recycling facilities. These facilities use a range of procedures, such as mechanical shredding, heat processing, and chemical treatments, to recover and remove materials such as glass, silicon, aluminum, and other metals from the panels.
According to SPER market research, ‘United States Solar Panel Recycling Market Size- By Process, By Type – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the United States Solar Panel Recycling Market is predicted to reach USD 130.84 million by 2033 with a CAGR of 13.23%.
Drivers: There are several reasons for the US market for recycled solar panels is growing. First off, a greater proportion of solar panels are reaching the end of their useful lives as a result of the widespread use of solar energy systems. Effective recycling processes are more and more necessary as solar panels age in order to regulate their disposal.
Second, regulatory acts and environmental rules have a significant impact. Legislation and policies that promote sustainability and waste management provide incentives for solar panel manufacturers and project developers to incorporate recycling procedures.
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Challenges:
- High cost of recycling process: Specialized equipment is needed to extract glass, metals, and other unusual materials from solar panels, and this equipment can be costly to maintain. Hiring skilled workers is extremely expensive when it comes to the recycling process.The creation of solar cells involves the use of some hazardous substances, which has an impact on the environment, but they only consume clean energy and emit no pollutants into the atmosphere. Hazardous byproducts from the solar cell life cycle also need to be recycled.
Impact of COVID-19 on United States Solar Panel Recycling Market
The COVID-19 epidemic affected the US market for recycled solar panels in a big way, causing issues and adjustments in the sector. Applications of lockdown tactics worldwide included supply chain interruptions, manufacturing halts, and delays in projects. The procedures for recycling solar panels that have reached the end of their useful lives and the manufacturing of new solar panels were also impacted by these interruptions. Furthermore, the need for recycling services was impacted by changes in investment patterns in the renewable energy sectors prompted on by financial concerns and decreased consumer spending during the epidemic.
Additionally, some of the market key players are; Aurubis AG, Canadian Solar Inc, ECS Refining, Envela Corporation, First Solar, Inc, Hanwha Group, JA Solar Co Ltd.
United States Solar Panel Recycling Market Segmentation:
By Process: Based on the Process, United States Solar Panel Recycling Market is segmented as; Thermal, Mechanical, Laser.
By Type: Based on the Type, United States Solar Panel Recycling Market is segmented as; Crystalline Silicon, Thin Film.
By Region: This research also includes data for East, West, South, North
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
United States Solar Panel Recycling Market Future Outlook
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