Energy & Power Solar Panel Recycling Market Growth Forecast | Page 2

Favorable Government Policies and Reduction in the Price of
Solar Panels
Decline in the prices of solar panels and favorable government policies and
initiatives as a move towards cleaner, affordable and reliable sources of
energy are considerably propelling the adoption of solar energy around the
world. According to International Renewable Energy Agency (IRENA), total
volume of accumulated global photovoltaic panel waste is projected to reach
around 60 to 70 million tons by 2050. There will be flourishing demand for
solar panel recycling plants and solutions across the globe in the near future.
Several authorities and governing bodies such as European Waste Electrical
and Electronic Equipment (WEEE) have laid out efficient and effective ways
of managing waste generated from solar panels and they encourage green
projects. Moreover, government support in the form of tax benefits and
subsidies to the market players is the factor propelling the growth of the
market.
However, huge investment in establishment of solar panel recycling plants
and lack of skills required for recycling solar panels are expected to operate
as a key restraint to the growth of solar panel recycling market over the
forecast period.
Further, for the in-depth analysis, the report encompasses the industry
growth drivers, restraints, supply and demand risk, market attractiveness,
BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key
players of the solar panel recycling market which includes company profiling
of Silcontel Ltd., Rinovasol Group, Reiling GmbH & Co. KG, ENVARIS
GmbH, ECS Refining LLC, Reclaim PV Recycling Pty Ltd., Silrec