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Solar Panel Recycling Market projected to grow by USD 798.8 million (2024-2028), driven by lower solar PV costs and AI’s influence on trends

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NEW YORK, Sept. 26, 2024 /PRNewswire/ — Report on how AI is driving market transformation- The global solar panel recycling market size is estimated to grow by USD 798.8 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 35.23%  during the forecast period. Reduction in costs of solar pv systems is driving market growth, with a trend towards increasing investment in renewable energy sources. However, challenges associated with product characteristics  poses a challenge. Key market players include Aurubis AG, Canadian Solar Inc., Cleanites Recycling, ENVARIS GmbH, First Solar Inc., NPC Inc., Reclaim PV Recycling Pty Ltd., Recycle Solar Technologies Ltd., Reiling GmbH and Co. KG, Rinovasol Global Services BV, SiC Processing GmbH, SILCONTEL Ltd., Silrec Corp., Solarcycle Inc., SunPower Corp., The Activ Group Solutions Pty Ltd, Trina Solar Co. Ltd., Veolia Environnement SA, We Recycle Solar, and Yingli Green Energy Holding Co. Ltd..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Solar Panel Recycling Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 35.23%

Market growth 2024-2028

USD 798.8 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

27.56

Regional analysis

Europe, APAC, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 43%

Key countries

Germany, Japan, US, Italy, and China

Key companies profiled

Aurubis AG, Canadian Solar Inc., Cleanites Recycling, ENVARIS GmbH, First Solar Inc., NPC Inc., Reclaim PV Recycling Pty Ltd., Recycle Solar Technologies Ltd., Reiling GmbH and Co. KG, Rinovasol Global Services BV, SiC Processing GmbH, SILCONTEL Ltd., Silrec Corp., Solarcycle Inc., SunPower Corp., The Activ Group Solutions Pty Ltd, Trina Solar Co. Ltd., Veolia Environnement SA, We Recycle Solar, and Yingli Green Energy Holding Co. Ltd.

Market Driver

The global shift towards renewable energy sources, driven by sustainability and carbon reduction goals, has led to a substantial increase in the adoption of solar PV and wind power. Renewables are poised to make a significant impact on the energy mix, with the International Energy Agency predicting an annual global energy investment of USD 1.7 trillion by 2023. This investment growth will finance distributed solar PV projects and energy efficiency initiatives. Consequently, the rise in solar PV installations will generate solar panel waste, fueling the growth of the global solar panel recycling market. 

Solar panel recycling is a growing trend in the renewable sector as the number of discarded solar panels increases. Solar panels, a key component of the energy industry, contain valuable materials like lead, cadmium, plastics, and glass. Three main processes – thermal, mechanical, and laser – are used for recycling. Lead and cadmium are extracted through thermal processes, while mechanical and laser processes handle plastics and glass. Environmental concerns and human health risks from solar panel waste are driving the need for recycling. Regulations are emerging to reduce carbon footprints and minimize environmental pollution. Crystalline silicon and thin film solar modules are the main types of panels being recycled. Companies like Aurubis AG, Canadian Solar, Echo Environmental, LLC, Envaris GmbH, First Solar, Hanwha Group, Reiling GmbH & Co, Silrec Corporation, SunPower Corporation, Trina Solar, Yingli Energy Co, Zorlu Holding, Rinovasol Group, ECS Refining, LLC, SiC Processing GmbH, Hanwha Q Cells, Hyundai, ESS, and competitors are leading the way. Spent EV batteries and energy storage systems are also being recycled. The market for solar panel recycling is expected to grow as the world transitions to renewable energy. 

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Market Challenges

Solar PV panel recycling presents unique challenges due to the materials used in their composition. While glass is the major component, solar panels also contain hazardous substances like cadmium, lead, and silver. These chemicals cannot be extracted without damaging the entire panel, making the recycling process complex. Chemical and thermal methods are employed to recover high-value materials, but the glass’s low salvage value and impurities pose challenges. The increasing use of organic solar PV panels with less glass and more polymers further reduces incentives for recyclers. Commercial recycling companies require specialized training to efficiently extract valuable materials, and organizations like the US SEIA offer training programs. Despite these efforts, the complexities of solar PV panel recycling hinder market growth in the forecasted period.The Solar Panel Recycling Market is gaining momentum due to increasing regulations on solar waste disposal and the need to reduce carbon footprints. The process of recycling solar panels involves extracting valuable materials like crystalline silicon and thin film from solar modules and solar cells. Companies like Aurubis AG, Canadian Solar, Echo Environmental LLC, Envaris GmbH, First Solar, Hanwha Group, Reiling GmbH & Co, Silrec Corporation, SunPower Corporation, Trina Solar, Yingli Energy Co, Zorlu Holding, Rinovasol Group, ECS Refining LLC, and SiC Processing GmbH are key players in this market. Challenges include complex regulations and the high cost of processing. However, growth prospects are promising with the increasing demand for recycling spent solar panels, batteries from Electric Vehicles (EVs), and the production of energy storage systems (ESS). Competitors like Hanwha Q Cells, Hyundai, and ESS are also entering the market. The market includes solar modules, solar cells, solar panel sector, crystalline silicon type, standalone PV systems, telecommunication & signaling towers, and batteries.

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Segment Overview 

This solar panel recycling market report extensively covers market segmentation by  

Product 1.1 Crystalline1.2 Thin filmType 2.1 Thermal2.2 Mechanical2.3 LaserGeography 3.1 Europe3.2 APAC3.3 North America3.4 Middle East and Africa3.5 South America

1.1 Crystalline-  Crystalline photovoltaic (PV) panels, the most widely used type in the solar PV market, are manufactured using monocrystalline and polycrystalline silicon. Monocrystalline panels, made from single crystal silicon, offer higher efficiency due to the unobstructed flow of electrons. In contrast, polycrystalline panels, formed from multiple silicon crystals, have lower efficiency but are more cost-effective. Both types consist of additional components, such as glass, aluminum, and copper, which can be recovered through mechanical processes, yielding around 85% by mass. However, high impurities in the recovered materials may reduce their resale value. Recycling advancements include metal frame and terminal box removal, elimination of the encapsulant, and metal recovery from the silicon cell. The crystalline PV panel recycling market is expected to expand due to the growing adoption of these efficient and reliable panels.

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Research Analysis

Solar panel recycling is an essential aspect of the renewable energy industry as the number of solar panels reaching their end-of-life increases. Solar panels consist of various materials, including crystalline silicon, thin film, lead, cadmium, plastics, and glass. Recycling processes include thermal, mechanical, and laser methods to extract and recover these valuable resources. The environment and human health are significant concerns as improper disposal of solar panel waste can lead to environmental pollution and carbon footprints. Regulations are being implemented to address this issue, with companies exploring partnerships to develop efficient and cost-effective recycling solutions. The energy industry and renewable sector recognize the importance of solar panel recycling in reducing waste and minimizing the environmental impact. Spent EV batteries and energy storage systems are also being considered for recycling using similar processes.

Market Research Overview

Solar panel recycling is an essential process to address the growing issue of solar panel waste. Solar panels, a crucial component of the renewable sector, consist of crystalline silicon and thin film types, containing valuable materials like lead, cadmium, plastics, glass, and metals. Recycling methods include thermal, mechanical, and laser processes to extract these resources. The environmental and human health benefits, as well as reducing carbon footprints, are significant. Regulations are increasingly important in this sector, with LAMEA leading the way in solar panel recycling. Companies like Aurubis AG, Canadian Solar, Echo Environmental LLC, Envaris GmbH, First Solar, Hanwha Group, Reiling GmbH & Co, Silrec Corporation, SunPower Corporation, Trina Solar, Yingli Energy Co, Zorlu Holding, Rinovasol Group, ECS Refining LLC, and SiC Processing GmbH are key players in this market. Growth prospects are promising as solar modules, solar cells, spent EV batteries, energy storage systems, and solar panel sector waste continue to accumulate. Competitors in the batteries sector, such as Hyundai and ESS, are also entering the market. The recycling of solar panels not only benefits the environment but also reduces the need for raw materials, making it a crucial part of the energy industry’s circular economy.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductCrystallineThin FilmTypeThermalMechanicalLaserGeographyEuropeAPACNorth AmericaMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Dr. Ashley Milhizer Sees 300% Growth in 2024 at Real Results Medical & Aesthetics

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After nearly two years in business, Dr. Ashley Milhizer’s Tempe-based center for naturopathic medicine and aesthetics has experienced the type of growth that rival industry titans. Real Results Medical & Aesthetics – soon to be opening a second location in Scottsdale in early 2025 – has seen an impressive 300% growth since opening their doors in March 2023.

TEMPE, Ariz., Dec. 21, 2024 /PRNewswire-PRWeb/ — After nearly two years in business, Dr. Ashley Milhizer’s Tempe-based center for naturopathic medicine and aesthetics has experienced the type of growth that rival industry titans. Real Results Medical & Aesthetics – soon to be opening a second location in Scottsdale in early 2025 – has seen an impressive 300% growth since opening their doors in March 2023.

Aside from patient referrals and cutting-edge technology, Milhizer credits social media as one of the biggest avenues for growth. “Between TikTok and Instagram we’ve amassed over 25,000 followers and that accounts for about 70% of our new business.”

Aside from patient referrals and cutting-edge technology, Milhizer credits social media as one of the biggest avenues for growth. “Between TikTok and Instagram we’ve amassed over 25,000 followers and that accounts for about 70% of our new business,” said Dr. Ashley Milhizer, Founder of Real Results Medical & Aesthetics.

On both platforms, Dr. Milhizer shares educational videos and insights into various medical & aesthetic procedures. Her engaging content not only highlights the quality of care she provides but also educates her audience on the latest trends and treatments in the field.

Originally from Michigan, and a graduate of UC Davis and the Southwest College of Naturopathic Medicine & Health Sciences, it was Dr. Milhizer’s personal experience in seeing how natural remedies can significantly impact the body that inspired her to get into the field.

“While I was in school, a friend of mine was diagnosed with stage 3 cancer and was given up to 18 months to live and I became determined to research every kind of remedy that could potentially help,” said Dr. Milhizer. “From a healthy diet, supplements and a host of other naturopathic strategies, we tried everything we could find and two months later he was in remission, and he’s still alive today.”

The power of naturopathic remedies, following an early career path in sports medicine – which enabled her to work with some of the state’s top professional athletes – is what led her to forming Real Results Medical & Aesthetics. The company’s broad depth of services is also what allowed her to expand her reach of clientele beyond athletes to everyone from the Valley’s elite CEOs and stay at home Moms to patients ranging from their early 20s to upper 80s.

The naturopathic services offered at Real Results Medical & Aesthetics include hormone optimization, peptide therapy, IV therapy, natural pain relief, weight loss, food allergy testing and overall diagnostic testing. While the aesthetics side of the business offers services such as hair restoration, skin resurfacing, botox, fillers, microneedling, RF Plasma skin resurfacing, laser treatments, vein removal and body contouring.

For more information on Real Results Medical & Aesthetics, visit www.realresultsmedical.com or call/text 480.245.5636. For ongoing news, updates and service offerings, follow Dr. Milhizer on Facebook, Instagram and LinkedIn.

Media Contact

Kendra Riley, Real Results Medical & Aesthetics, 1 4802206051, kendra@dawningpr.com 

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ICEYE expands its Earth Observation capabilities with launch of two SAR satellites for mid-inclination orbit on the Bandwagon-2 mission with SpaceX

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Mid-inclination orbit provides more SAR-imaging opportunities at middle latitudes of the globe for ICEYE customers.

HELSINKI, Finland, Dec. 21, 2024 /PRNewswire/ — ICEYE, the global leader in SAR satellite operations for Earth Observation and persistent monitoring, announced today that it has launched two new satellites to its constellation of SAR satellites. Both satellites expand the availability of ICEYE’s latest imaging technology to deliver additional 25 cm imaging capacity. The satellites were integrated via Exolaunch and launched as part of the Bandwagon-2 rideshare mission with SpaceX from Vandenberg Space Force Base in California, USA. Both satellites have established communication, and early routine operations are underway. With today’s launch, ICEYE has successfully launched 40 satellites into orbit since 2018, with nine satellites launched in 2024 alone.

The new SAR satellites were launched into mid-inclination orbits; compared to a polar orbit, these mid-inclination orbits provide more than twice the collection opportunities at middle latitudes of the globe. ICEYE customers have many areas of interest in these middle latitudes (+/- 45 degrees), and these customers will benefit from increased persistence over these regions. Customers with imaging interests outside these middle latitudes will continue to benefit from the frequent revisit enabled by ICEYE’s dozens of satellites in polar orbits. ICEYE’s unique mix of mid-inclination and polar orbits provides its customers with deep revisit capabilities for targets all around the globe. The new satellites will serve ICEYE’s commercial missions as part of the world’s largest SAR satellite constellation owned and operated by ICEYE.

Rafal Modrzewski, CEO and Co-founder of ICEYE said: “This launch marks another significant milestone in ICEYE’s ability to provide our customers with a rich diversity of collection opportunities. We bolster our industry-leading SAR constellation and expand our customers’ collection opportunities in the areas most important to them.”

Today’s launch is another step forward in ICEYE’s steady drumbeat of innovative breakthroughs in Earth Observation. This year alone, ICEYE has, for example, introduced Dwell Precise, a new 25 cm imaging mode that offers its customers the highest-fidelity 25cm imaging capability, and adds advanced capability to ICEYE’s line of Dwell products; launched an API that allows customers to directly task its SAR satellite constellation; and launched ICEYE Ocean Vision to provide actionable intelligence for maritime domain awareness.

About ICEYE

ICEYE delivers unparalleled persistent monitoring capabilities to detect and respond to changes in any location on Earth, faster and more accurately than ever before.

Owning the world’s largest synthetic aperture radar (SAR) satellite constellation, ICEYE provides objective, near real-time insights, ensuring that customers have unmatched access to actionable high-quality data, day or night, even in challenging environmental conditions. As a trusted partner to governments and commercial industries, ICEYE delivers intelligence in sectors such as insurance, natural catastrophe response and recovery, security, maritime monitoring, and finance, enabling decision-making that contributes to community resilience and sustainable development.

ICEYE operates internationally with offices in Finland, Poland, Spain, the UK, Australia, Japan, UAE, Greece, and the US.  We have more than 700 employees, inspired by the shared vision of improving life on Earth by becoming the global source of truth in Earth Observation.

Media contact: press@iceye.com

Visit www.iceye.com and follow ICEYE on LinkedIn and X for the latest updates and insights.

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Wrap Up the Holidays with Bedsure Exceptional Discounts

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NEW YORK, Dec. 21, 2024 /PRNewswire/ — The holiday season has arrived, and Bedsure is bringing warmth and coziness to gift-giving with exceptional discounts on a selection of premium products. From luxurious throw blankets to versatile wearable blankets and complete bed-in-a-bag sets, Bedsure offers ideal holiday gifts for everyone. With special discounts, this is the perfect opportunity to bring comfort and joy to loved ones.

Top Picks for This Holiday Season

1. Arch Shaggy Sherpa Fleece Blanket – 28% Off
This ultra-soft throw, now just $12.99 (original price $17.99), combines warmth with elegance. Featuring a stylish jacquard pattern, it adds charm to any space and serves as a versatile gift or companion for chilly evenings. Lightweight yet cozy, this blanket is designed to provide comfort and durability.

2. Sherpa Fleece Wearable Blanket – 20% Off
The ultimate gift of comfort, this wearable blanket features a plush flannel exterior and Sherpa lining for luxurious warmth. Thoughtful details such as ribbed cuffs and spacious pockets make it a practical choice for lounging or staying cozy during the holidays. Now available for $23.99 (original price $29.99), this winter essential offers unmatched value.

3. Vegan Fur Blanket – 43% Off
A touch of luxury is easy to achieve with the Bedsure Vegan Fur Blanket, priced at $33.99 (original price $59.99). This ultra-fine faux fur throw provides elegance and comfort, mimicking the softness and texture of real fur in a cruelty-free design. It’s perfect for cozying up or making a stylish statement.

4. Marilyn Monroe™ Sherpa Blanket – 67% Off
Hollywood glamour meets comfort with the Marilyn Monroe™ Sherpa Blanket. Inspired by pop art, this lightweight and cozy throw features a vibrant design that pays tribute to an icon. At just $9.99 (original price $29.99), it’s a stylish yet affordable holiday gift.

5. Pintuck Bed-in-a-Bag – 7-Piece – 64% Off
The all-in-one 7-piece bedding set, available for $26.79 (original price $74.99), transforms any bedroom with its elegant pinch pleat design and cloud-like microfiber comforter. Combining sophistication with practicality, it’s a thoughtful gift or the perfect holiday home upgrade.

Why Choose Bedsure This Holiday Season?

Unbeatable Discounts: Save up to 67% on top products that blend comfort and style.Perfect for Every Occasion: Whether it’s a Christmas gift, a New Year surprise, or an upgrade for the home, Bedsure’s collection offers a variety of options.High-Quality Comfort: Each product is crafted with premium materials to ensure warmth, softness, and long-lasting durability.

This holiday season, Bedsure provides the perfect opportunity to share comfort and joy. Exclusive deals are available for a limited time, making it the ideal moment to explore the collection and make the season unforgettable.

About Bedsure:

Founded in 2016, Bedsure is a leading home textile brand with products sold to over 15 million customers worldwide. Currently, Bedsure has over 50 bestselling home products in 8 countries and has maintained a compound growth rate of 100% for five consecutive years. While Bedsure has grown into a global company with diverse products to meet different customer needs, its focus on comfortable home products and everyday value stays the same. For more information, visit Bedsure’s official website https://bedsurehome.com/, or Amazon shop https://www.amazon.com/bedsure. Stay in touch with Bedsure on social media @bedsurehome.

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