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In Depth

Why Solis Inverters became the Preferred Choice of Airports PV Power Station at Home and Abroad.

23 August 2019
Why Solis Inverters became the Preferred Choice of Airports PV Power Station at Home and Abroad.

Efficient and convenient air traffic is one of the prerequisites for the development of modern society and economy, especially for the development of high-tech industry.

Solis inverter debuted on the news feature of “Good crops on photovoltaic power stations” by CCTV in its "Half-Hour Economy

23 August 2019
Solis inverter debuted on the news feature of “Good crops on photovoltaic power stations” by CCTV in its "Half-Hour Economy

China CCTV economical channel's "Half-Hour Economy" broadcast a news feature on “Good crops on photovoltaic power stations

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UPCOMING EVENTS

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SolarQuarter Tweets

India Wind Energy Forum 2019 is almost here! Buy your ticket today https://t.co/2ophHXXrpv See you on Nov 14, 2019!
About 17 hours ago
SolarRoofs Karnataka 2019 is almost here! Buy your ticket today https://t.co/CVIqStbToI See you on Oct 04, 2019!… https://t.co/JMTQI6azf0
Saturday, 14 September 2019 05:10
Who Will Win The Most Prestigious EMobility Week Awards In 2019? - https://t.co/e1xBzttu0U
Friday, 13 September 2019 11:47

Solar Panel Recycling Market to Exceed $269 Million by 2023

Global solar panel recycling market is projected to reach $269.8 million by 2023. Increasing support of the government toward sustainable development and growing adoption of solar power as a renewable source of energy are the major factors driving the growth of the market.


In terms of value, mechanical process held the largest share in the solar panel recycling market during the historical period and is estimated to contribute more than 55% share to the market in 2017. This can be attributed to the fact that the process is highly efficient and environmentally safe.
During the forecast period, thin-film PV recycling is expected to be the fastest-growing category in the solar panel recycling market, with a CAGR of 29.7% in value terms. The advantageous properties of thin-film solar panels, such as flexibility, light weight, and temperature resistance, are expected to drive their recycling market in the coming years.


In terms of revenue, the early-loss shelf life category of solar panels is estimated to contribute more than 80.0% share to the solar panel recycling market in 2017. This can be attributed to the increased use of these panels for recycling purposes due to factors such as exposure to harsh weather conditions and lack of routine maintenance.


Market will witness the highest growth in Asia-Pacific (APAC)

During the forecast period, the solar panel recycling market is projected to witness the fastest growth in terms of value in APAC. Growing environment sustainability concerns and cost advantage of solar panel recycling in emerging economies, such as China and India, are expected to foster the market growth in APAC in the coming years.


Reducing solar panel installation cost is the key trend in the market

 

Solar power is a renewable, clean, noiseless, and freely available source of energy. In spite of the extensive costs associated with the R&D of solar energy systems, solar panel manufacturers have successfully managed to reduce design and overhead costs over the years. This drop in the solar energy prices can be attributed to the reduction in the hardware cost and increased focus on the minimization of pre- and post-construction expenses.
Regional governments are witnessing record low prices for solar and wind systems at power auctions, which is resulting in the planning of more subsidy-free solar and wind farms. In addition, the decreasing price of solar panels and their installation is increasing their popularity for residential and commercial applications, which is subsequently driving the solar panel recycling market.


Increasing usage of solar power sources is expected to drive the market

 

Growing energy crisis, high rate of carbon emissions, and increasing concerns for environmental protection have stimulated the need for sustainable power generation, globally. The growing number of pacts and initiatives related to the implementation of solar energy projects, across the world, is the main factor supporting the increased installation of solar panels or PV modules, which, in turn, is driving the solar panel recycling market.


The average lifespan of solar panels is 30 years, but some may suffer an early loss, resulting in a large amount of e-waste generation containing environmentally harmful substances. Thus, the recycling of these solar panels becomes important, as it helps in maintaining the ecological balance and reducing the emission of various hazardous substances into the atmosphere. The above-mentioned factors indicate that the increasing popularity of solar energy as a renewable power source is driving the growth of the solar panel recycling market.

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