Solar Recycling Opportunities Bring 466% YoY Boost to Commercial and Industrial Solar System Sourcing
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Welcome to this week’s edition of the Thomas Index Report.
Global solar photovoltaic capacity is set to triple in the next five years as consumer demand soars. At the same time, first-generation solar technology, popularized around 2008, is reaching obsolescence. In this Thomas Index Report, we explore how businesses have found a single solution to address both trends: solar recycling services.
The United States will see an acceleration of solar waste in the coming decade. In fact, the EPA reports that solar panel waste could exceed 10% of the record global e-waste by 2050. While initially concerning, solar recycling may be a promising business opportunity.
Solar panels are packed with silicon, glass, aluminum, silver, copper, and other valuable materials. After their average lifespan of 25-30 years, solar panels are typically thrown into landfills. However, there is a significant incentive to reclaim and inject these materials back into domestic supply chains. The International Renewable Energy Association (IRENA) projects that the material recovered from aging solar panels alone could exceed $450 million in value by 2030 and $15 billion by 2050.
Recycling company SolarCycle, launched in late 2022, aims to demonstrate how lucrative solar recycling can be. The group recycles solar systems at scale and can extract 95% of their value while reducing carbon dioxide emissions. SolarCycle also refurbishes aging panels to extend their lifetimes, avoiding up to one and a half tons of carbon dioxide emissions per panel. The company is one of only five U.S. members of the Solar Energy Industry Association’s PV Recycling Program, putting them at the forefront of the push toward a circular solar supply chain.
Thomasnet.com’s sourcing data illustrates the acceleration of solar energy rollout and the pressing need for recycling efforts. Commercial and industrial solar systems sourcing is up 466% year-over-year, and solar energy equipment sourcing is up 61% year-over-year.
I’m Anna Wells, and this is the Thomas Index Report.
Top 10 Categories with the Most Sourcing Activity Month Over Month
- Rapid Prototyping Services: Plastic: 91800.0%
- Prototypes: Product Design: 78275.0%
- Models: Experimental, Working & Prototype: 52600.0%
- Medical Components: Plastic: 40460.0%
- Metalworking Services: 39144.4%
- Labeling Services: Contract: 32900.0%
- Milling: Metal: 32145.8%
- Circuit Design & Layout Services: 31150.0%
- Prototypes: Stereolithography (SLA): 26200.0%
- Angles: 25950.0%
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- Amid Consumer Focus on Sustainability, Food Packaging Sourcing Is Up 240% YoY
