The global demand for proper end-of-life management of photovoltaic (PV) panels is rising, with an estimated 78 million tonnes of PV waste expected by 2050. Singapore's rapidly expanding solar industry faces a growing challenge of sustainable disposal as it anticipates a solar capacity of over 1.2GW by 2024. According to International Renewable Energy Agency (IRENA), this could result in 3,000 tonnes of PV waste in 2024-2025 and up to 6,600 tonnes by 2030. Given Singapore's limited land space, there is an urgent need for efficient and profitable recycling solutions to minimize solar panel waste going to landfills.
This solution enables PV panel recycling through fully mechanical processes housed in a 40-foot shipping container. Unlike traditional methods that use thermal treatments or harmful chemicals, it employs customized robotic and mechanical processes, producing no chemical waste and consuming less energy. As a mobile solution, it can be deployed directly at decommissioning sites, eliminating the need for transport to centralized facilities and significantly reducing logistics costs. This environmentally friendly, cost-effective solution turns PV waste into a profitable business opportunity. It offers a circular, plug-and-play solution for recyclers looking to quickly expand into solar panel recycling and meet market demands efficiently. It delivers environmental, technological, and commercial benefits.
The technology owner is keen to collaborate with local and international e-waste recycling companies with established material networks for aluminium, glass, and silicon, as well as partners with advanced extraction technologies or further upcycling capabilities for silicon and silver.
Globally, the solar panel recycling market is projected to be worth USD 385 million in 2024, with a forecasted growth to USD 931 million by 2029, at a CAGR of 19.3%.The largest markets for solar panel recycling are in the Asia-Pacific, North America, and Europe. Recent policy changes in the US and EU, promoting Extended Producer Responsibility for e-waste management, including solar panels, are driving increased demand for cost-effective recycling solutions.
The decentralized solar panel recycling solution offers four key advantages over conventional solutions available in the market: