Council on Energy, Environment and Water Integrated | International | Independent
Suggested citation: Tyagi, Akanksha, Prashant Badal and Ajinkya Kale. 2025. How Big is the Solar Module Recycling Industry in India? Sizing the Market, Investment, and Emission Reduction Opportunity. New Delhi: Council on Energy, Environment and Water.
Solar module recycling can advance India’s energy transition by reducing dependence on imported critical minerals and strengthening domestic manufacturing. However, the module recycling industry remains nascent, hindered by weak regulations, inefficient technologies, and limited markets for recovered materials. A robust database of key information is vital to guide industry and policy decisions in developing a domestic recycling ecosystem.
This study provides estimates on India’s solar module waste by 2047, module recycling market opportunity, required investments to set up the recycling infrastructure, virgin material demand met by module recycling, and emissions reduction. It also provides suggestions on appropriate business models to scale the recycling industry.
India’s solar sector currently faces two major problems— growing waste, and the fact that domestic manufacturing is vulnerable to geopolitical risks. To manage these issues, the country needs to transition to a circular solar industry. The biggest roadblock to this is that India currently lacks a strong domestic solar module recycling industry. There is an urgent need for targeted interventions to establish and scale this industry.
To support this planning, we have sized India’s solar module recycling capacity and investment requirement by 2047, and market opportunity in 2047. We also estimate the reduction in demand for virgin materials by recycling, and the corresponding emission reductions. We use this evidence to recommend immediate priorities for policymakers, manufacturers, and recyclers to create a robust solar module recycling industry in India.
First, we estimate India’s solar waste by 2047 using our in-house waste estimation model (MNRE and CEEW 2024). The capacity installations used for this waste estimation are based on the actual annual installations until 2024, and the projected annual additions until 2047, as per the growth rates from our earlier study (Das et al 2025). According to this trajectory India’s cumulative solar capacity reaches 534 GW by 2047. Based on projected waste, we estimate the number of recycling facilities and the investment needed to support this infrastructure for both crystalline silicon and thin-film modules. The market opportunity is estimated based on the recovery rates and resale values for different materials reported in literature. The emissions savings are estimated using a standard lifecycle analysis approach using India-specific emission factors for different parameters.
India’s clean energy transition is moving at a rapid pace with a total renewable energy (RE) deployment of 242 GW as of August 2025 (MNRE 2025a). Solar energy’s share is a resounding 50 per cent (123 GW) of this total RE capacity. Adding to this, India’s solar module manufacturing industry has reached a major milestone of 100 GW nameplate capacity, under the Approved List of Models and Manufacturers (ALMM) (MNRE 2025b).
At the same time, India is seeking to strengthen its position in upstream component manufacturing by expanding domestic capabilities in polysilicon and wafers, with production-linked incentive (PLI) schemes playing a central role in driving this ambition (PIB 2022). This requires high-purity raw materials such as metallurgicalgrade silicon for polysilicon production, which are not produced commercially in the country (ORF America 2024). While other components, such as junction boxes, aluminium frames, encapsulants and glass, have seen some indigenisation, these along with other components comprising the bill of materials (BOM) such as silver paste still depend on global supply chains, leaving the industry vulnerable to disruptions (Zhao 2025).
Recycling of waste solar cells and modules emerges as a desirable solution for managing these issues. By establishing an efficient recycling and recovery infrastructure, India can reclaim critical minerals such as silicon, copper, cadmium and tellurium, reducing the need for fresh imports and fostering a more self-sufficient solar manufacturing ecosystem. Further, creating a solar module recycling ecosystem directly aligns with the country’s vision of a Viksit Bharat by 2047—focussing on self-reliance and innovation (PIB 2025a). Embedding circular strategies, such as recycling, into India’s clean energy transition goals ensures that the journey towards a sustainable and energy secure future is marked by technological innovation, responsible resource management, and a resilient domestic supply chain.
However, India’s solar recycling industry is still in its early stages, with a handful of commercial facilities operating1 . Key barriers include a lack of regulatory mandates, limited efficiency of available recycling technologies, and lack of domestic markets for recovered materials. Further, the informal sector continues to play an important role in the collection and dismantling of solar waste, which is often done using unsafe and environmentally harmful practices due to a lack of proper equipment, training, and regulatory oversight. Additionally, without proper disposal, the accumulation of solar waste in toxic environments threatens to contaminate land and water resources via leaching of hazardous materials like lead and cadmium (Nain and Kumar 2020).
India has classified solar cells and modules as electronic items and regulates the waste under the Electronic Waste (Management) Rules 2022 (henceforth called E-Waste Rules) (MoEF&CC 2022). The rules mandate producers of this equipment to collect and store the waste until 2034–35, with no obligation to meet any targets for collection, recycling, or recovery. Storing this waste needs significant land, and attracts additional expenses for solar cell and module producers. On the other hand, recycling technologies are continuously improving, with advancements reported to enhance the recovery rates and purity grades of materials. And yet, even globally, many of these advanced processes are still at pilot stages, with limited validation of commercial scalability (IEA-PVPS 2024). As a result, there is high risk-perception among investors in financing this sector to build the necessary infrastructure2 .
Without comprehensive regulations, advanced recycling infrastructure, and scalable business models for solar module recycling, India risks facing an environmental burden, and losing the economic opportunity to recover valuable materials that are critical for its energy transition. Given this strategic and environmental relevance, India must build a favourable ecosystem to encourage solar module recycling and guide investments into the sector.
Objective of the study
To support creating a domestic solar module recycling industry, we provide critical data points on different aspects necessary for industry and policymakers’ decision-making. The key questions addressed are:
1. What is the scale of recycling infrastructure required to handle projected solar waste volumes by 2047?
2. How much capital investment is needed to establish solar module recycling facilities?
3. What is the market opportunity for recovered materials from solar waste?
4. How can recycling reduce India’s import dependency for key solar materials?
5. What is the reduction in greenhouse gas (GHG) emissions by recycling solar waste?
Based on this information, we provide targeted recommendations to key stakeholders (industry, government, recyclers) to strengthen India’s solar module recycling ecosystem. We also provide recommendations on suitable business models that will support the scaling of this industry.
It is important to highlight that recycling and recovery are one of the strategies of a circular economy, which prioritises design and extended lifespan of products (Ellen MacArthur Foundation n.d.). These strategies are relatively more beneficial, environmentally and economically. However, given the urgency of the topic, we focus on scaling recycling of solar modules in this study.
Integrating recycling into India’s clean energy goals drives innovation, resource efficiency, and supply chain resilience.
We adopt a comprehensive methodology to answer the key objective questions focused on in this study. First, we project India’s cumulative solar waste volumes by 2047 (waste projection), and estimate the recycling capacity needed to manage the generated waste quantum (recycling capacity estimation). We then quantify the capital investment required to set up recycling facilities, breaking down costs for land, construction, and machinery (investment estimation).
Next, we assess the market opportunity by calculating potential revenues from selling recovered materials that include critical minerals such as silicon, copper, cadmium and tellurium, the precious metal silver, and other materials present in the solar waste such as glass and aluminium.
The analysis also evaluates how recycling can reduce India’s import dependency on these materials by comparing quantities recovered and the projected demand for these materials for Indian manufacturers (demand met by recycling).
Finally, we use life-cycle analysis (LCA) to assess the GHG emissions avoided by replacing virgin materials with recycled materials for solar module manufacturing. Figure 1 summarises this approach and the subsequent sections describe the methodology in detail.
Projecting India’s solar waste and recycling capacity needs
The first step involves estimating India’s solar waste generation by 2047, to assess the scale of the waste and corresponding recycling infrastructure requirements. Building on the actual deployment data from government sources up to the calendar year 2024 (PIB 2025b), we model the annual additions until 2047 based on the projected growth rates from our previous studies (Das et al. 2025). According to this trajectory, India’s cumulative solar capacity reaches 534 GW by 2047.
Next, we project annual solar waste generation by factoring in the typical losses during transportation and handling, project operation, and at end-of-life (EoL)3 due to performance degradation4 , as mentioned in our earlier study (MNRE and CEEW 2024). This provides the annual and cumulative volume of solar waste generated over the modelled years. We also assume that by 2030, crystalline silicon (c-Si) will continue to be the dominant module technology to be deployed in India (95 per cent share), and the share of cadmium telluride thin-film modules will remain low (5 per cent). After 2030, we assume an increased thinfilm market share (23 per cent) which remains constant until 2047 (Chadha et al. 2025).
To estimate the weight of the installed capacity, we use material intensities (grams/watt (g/W) or tonnes/megawatt (tonnes/MW)) for the two module technologies. For c-Si, we factor changing composition due to improvements in material use. The mass of the installed capacity for a specific year is determined using the average material intensity (Table A1 in Annexures), and the installed solar capacity for the same year as per the formula below:
Mass of installed c – Si capacity in year n (tonne) = ∑9 Installed c – Si capacity in year n (MW) * average material intensity of material i (g/W)
Where n varies from 2009 to 2047, i refers to nine materials tracked for c-Si modules (aluminium, glass, copper, silver, silicon, tin, zinc, lead, and polymer).
This material composition is kept constant for thin-film modules5 during the whole analysis period until 2047, as mentioned in Table A2.
In the absence of solar module recycling targets in India at the time of publishing this report, we assess the required number of recycling facilities based on the annual waste projections indicating 100 per cent collection. Further, we assume a processing capacity of 3,600 tonnes per annum (TPA) for every recycling facility handling c-Si modules (Kale and Tyagi 2025). The number of recycling facilities required annually has been estimated by dividing the projected annual solar waste by processing capacity per facility.
For thin-film modules, we focus on First Solar. As the only manufacturer of this technology in India, it operates in a circular business model, collecting and recycling modules to reuse the different components in manufacturing new modules (First Solar 2025). First Solar has a 9,514 TPA recycling facility in India. We track the quantum of waste thin-film modules generated annually against First Solar’s facility. When the projections go beyond this capacity, we assume addition of new recycling capacities of 3,600 TPA, to manage the growing volume by 2047.
For both technologies, in addition to annual waste flows, the analysis also accounts for the cumulative waste generated up to the current year, 2025. It is assumed that this legacy waste will be recycled progressively and entirely by 2030. Accordingly, additional facilities have been included to manage this backlog within the stipulated timeframe. The annual number of required facilities are then aggregated to arrive at the cumulative number of recycling facilities needed by 2047. This cumulative figure reflects the total infrastructure required to manage both legacy and future solar module waste streams efficiently.
Estimating investment required for solar module recycling
In this study, the investment opportunity in India’s solar module recycling sector is defined by the capital expenditure (capex) required to establish solar module recycling facilities. This capex requirement comprises several core components:
• Land: Recycling facilities are typically land-intensive, especially for multi-step operations including storage, sorting, dismantling, and materials recovery. A significant portion of investment is attributed to securing adequate land (leasing or buying), whose cost varies significantly throughout the country. This study considers buying land to set up the facilities.
• Construction: This includes the development of industrial sheds, waste-handling areas, storage units for recovered materials, and utilities infrastructure. The cost is influenced by the scale of operations and adherence to the prescribed environmental and safety standards.
• Machinery: Another significant portion of the capex is procuring and installing the recycling equipment. This includes machinery for disassembly, glass and metal separation, chemical treatment for metal recovery, and emission control systems. The cost varies depending on the technology used; basic mechanical processes are less capital-intensive compared to advanced thermal or chemical processes.
• Compliance: Setting up and operating a recycling facility in India involves substantial regulatory compliance, under environmental and waste management rules. These costs include obtaining permits and clearances (such as from State Pollution Control Boards), conducting Environmental Impact Assessments (EIAs), and ensuring worker health and safety in accordance with labour and hazardous waste norms.
Setting up and operating a recycling facility in India involves substantial regulatory compliance, under environmental and waste management rules.
The cost for setting up a recycling facility for c-Si modules has been analysed for a chemical recycling technology that combines mechanical and chemical recycling processes. This technology is used due to its high material-recovery efficiency for c-Si modules (Kale and Tyagi 2025). Table A3 in the Annexures summarises the costs assumed for establishing a c-Si recycling facility. On the other hand, the costs associated with establishing a thin-film module recycling facility are taken from consultations with First Solar.
Estimating market opportunity for solar module recycling
We estimate the market opportunity for solar module recycling based on the potential revenue from the sale of materials recovered from recycling solar modules. This estimation follows a multi-step methodology that integrates waste volume projections, material recovery analysis, and market pricing for recovered materials.
Material composition and recovery rates: We use the solar waste volumes and apply the material composition of the solar modules to get the weight of different materials. For c-Si, we vary the average material composition every decade (Table A1 in the Annexures) to factor in future changes to module compositions. In the absence of such data for thin-film solar modules, we keep the composition constant for the whole analysis period (Table A2 in the Annexures). We then apply individual recovery rates as per the recycling technology used for both the c-Si and thin-film module technologies to estimate the quantum of individual material recovered.
Valuation of recovered materials: The quantum of each recoverable material (in kilograms) is then multiplied by its respective market price to estimate the potential revenue that could be earned from its sale. The formula used to estimate the market opportunity in a particular year is:
Where n refers to the total number of recoverable materials in the solar module (glass, aluminium, copper, silver, silicon, cadmium, and tellurium), i is the ith material, weight of the material is in kg, and price of the material is in INR/kg.
Price assumptions: There is substantial variation in the market prices of recycled materials, depending on their purity, form (metal or compound), and use. In the absence of reliable data on recycled material prices specific to India’s nascent PV recycling sector, these are determined based on average market prices of scrap and commodities, obtained from online marketplaces and historical databases. Further, these prices would change in the future. In this study, we assume the material prices to be constant throughout the analysis period. Hence, any fluctuations in material prices due to market dynamics, geopolitics, or other factors would have a direct impact on the estimated market opportunity.
The cumulative market value is therefore calculated as the aggregate of the potential revenue from all recoverable materials.
Estimating the material demand met by recycling
The various materials recovered from recycling discarded and decommissioned solar modules can be reused to manufacture new modules. This can reduce the contribution from virgin sources. For each material in a particular year, we estimate the demand met by recycling as the ratio of total quantum recovered (in tonnes) from recycling to the total demand (in tonnes). The analysis covers aluminium, glass, copper, silver, and silicon for c-Si modules, and aluminium, glass, tellurium, cadmium, and copper for thinfilm modules. The detailed approach is as follows.
First, we estimate the total recoverable quantum for each material on an annual and cumulative basis for both module technologies. We also determine the total recoverable quantum for all materials in a year.
Second, we forecast the annual demand of each material for the Indian solar industry, based on the deployment trend. Here, we assume that all future deployments are manufactured domestically. We then add all this individual material requirement to get the cumulative material demand for both technologies.
The various materials recovered from recycling discarded and decommissioned solar modules can be reused to manufacture new modules.
Third, we take a ratio of these two numbers to estimate the contribution of recycling in meeting the demand over the analysis period, as per the formula below
Here, i is the material and n is the year of evaluation that varies from 2026 to 2047.
This assessment is done for all materials—aluminium, glass, copper, silver, silicon, tellurium, and cadmium—to know how much of the demand for a material is met by recycling.
The formula to estimate the total material demand for solar met by recycling, is:
Estimating the emissions avoided by recycling of solar panels
Reusing recovered materials from decommissioned modules into new manufactured modules can help reduce GHG emissions. This is because several materials such as aluminium, silicon and silver from virgin sources have high embodied emissions. On the other hand, recovery of materials through recycling has lower emissions compared to virgin mining. Therefore, reusing recycled materials into production processes can help reduce lifecycle emissions of solar modules.
We conducted an LCA to evaluate the carbon emission reductions achieved by substituting virgin materials with recycled materials in the manufacturing of solar modules (emissions avoided). The methodology follows established LCA practice and is structured into four phases: goal and scope definition, life-cycle inventory analysis, impact assessment, and results, which are further discussed later in the report.
Goal and scope definition: The primary objective is to quantify the carbon emissions avoided when recycled materials replace virgin materials in solar module production. Figure 2 shows the solar module manufacturing process and the point at which recovered materials can replace virgin materials.
The functional unit for this assessment is defined as one kilogram of material required for solar module manufacturing. The study assumes a cradle-to-gate system boundary, to the point where pure materials are ready for module manufacturing (the highlighted box in Figure 2), and it excludes the emissions involved in the process of module manufacturing, use phase of solar module, and end-of-life stages6 . The system boundary for modules made from virgin materials (virgin material pathway) includes extraction, transportation, and processing of raw materials. For the recycled material pathway, the system boundary starts at the dismantling of end-of-life modules, followed by transport to recycling facility, processing at recycling plant, and preparation of materials for manufacturing.
Life-cycle inventory (LCI) analysis: The LCI phase involves detailed data collection and modelling for two pathways (Figure 2):
i. Virgin material pathway
ii. Recycled material pathway
For virgin materials, the inventory accounts for carbon emissions associated with each material, considering primary energy use and India-specific emission factors taken from secondary literature available (Ministry of Power 2025). The primary energy data is then multiplied by the applicable emission factor. Further details on emission factors are provided in Table A4 and Table A5 in the Annexures.
For recycled materials, transport assumptions for carrying waste to recycling facility are specified (e.g., 324 km by a 22-feet truck with a 10-tonne load and 6.5 km/litre mileage). Recycling process data is adapted from literature (IEA-PVPS 2020). We used the EcoInvent database for supplementing any data gaps where India-specific data is lacking (International Resource Panel 2013). EcoInvent is a comprehensive, high-quality, and regionally relevant LCI data sets widely recognised for reliable environmental assessments. For the recycled pathway, the inventory includes emissions from dismantling, transport, and recycling operations. Further details on emission factors are provided in Table A6 and Table A7 in the Annexures.
Impact assessment approach: The main impact category considered is global warming potential (GWP), measured in CO₂-equivalent emissions. Emissions are calculated and reported as avoided emissions per tonne of solar module.
The following sections present the results for waste projection, investment required, market opportunity, reduction in demand for virgin materials, and emissions avoided.
These insights collectively highlight the economic, environmental, and resource efficiency benefits of establishing a robust solar recycling ecosystem in India. They also provide guidance for policymakers and investors to plan and develop an efficient recycling infrastructure across the country.
India’s solar waste estimates and recycling capacity needs
India’s installed cumulative solar capacity will increase at the compounded annual growth rate (CAGR) of around 7 per cent between 2025 and 2047 (Figure 3). Solar waste is projected to grow at a CAGR of more than 20 per cent in the same period (Figure 3). This projection is just for waste generated from the installed solar capacity, and does not include waste generated from manufacturing of solar cells and modules.
Based on these assumptions, we assess that India has around 146 kilotonnes (kt) of cumulative solar waste as of the end of 2024, coming from 97.8 GW of installed solar capacity. Following the new additions modelled from 2025 onwards, India could see a rise of more than 76 times this quantum—around 11,221 kt of cumulative solar waste by 2047 (Figure 4). About 92 per cent of the waste (10,333 kt) comes from c-Si modules, and around 8 per cent (888 kt) is from thin-film modules. This waste includes early-life losses from transportation and handling, mid-life losses from project operations, and EoL modules.
As of August 2025, India’s installed solar capacity is skewed to the western and southern states, with Rajasthan, Gujarat, Maharashtra, Tamil Nadu, and Karnataka hosting around 75 per cent of the total installed 123 GW solar capacity (MNRE 2025a). This trend indicates that these states are likely to be the leading contributors to solar waste generation. A more granular mapping of India’s deployed solar capacity would be important to map the spatial distribution of waste. This information would be essential to strategically deploy the waste management infrastructure, such as collection centres, dismantling and recycling facilities. However, this data is not readily available in public domain, which impedes decision-making by recyclers and producers.
Recycling infrastructure requirements: We use these waste projections to assess the recycling capacity required in India. Figure 4 shows the annual waste projections as per the annual deployment trend assumed. As mentioned before, India already generated around 146 kt of solar waste by the end of 2024. The recycling capacity is sized to manage this existing as well as projected waste volumes. Furthermore, we estimate separate recycling facilities for c-Si and thin-film modules. Currently, First Solar is the only commercial recycler for thin-film modules in India with a 9,514 TPA facility.
Our analysis suggests that India will require a total of 299 facilities—270 for c-Si module recycling and 29 facilities for thin-film by 2047.
Currently, the EPR targets under the E-Waste Rules are not applicable for solar module recycling. As a result, only a few commercial recyclers have taken the initiative to set up dedicated recycling facilities for handling solar waste in the country.7 This underscores the critical need for a clear regulatory vision to ensure timely deployment of recycling infrastructure, to ensure the country’s readiness in recycling and recovering valuable materials from the anticipated surge in solar waste.
Investment needed to build India’s solar module recycling capacity
We estimate the capex to determine the investment opportunity for solar module recycling. These estimates are done separately for a chemical recycling process for c-Si modules and First Solar’s commercialised process for thinfilm modules. Any changes to the recycling technology will change the capex required.
The total investment required to set up one recycling facility with a chemical recycling technology is estimated to be around INR 14.38 crore (Table A3 in Annexures). This includes INR 4.75 crore for land used to set up the facility, INR 2.3 crore for facility construction, and INR 7.13 crore for the recycling machinery utilised. An additional INR 0.2 crore is allocated for compliance costs. For further information on these cost components, please refer to another study of ours, where a detailed methodology and calculation for these numbers has been provided (Kale and Tyagi 2025).
At the same time, the total capital cost for a thin-film module recycling facility is INR 13.5 crore, based on consultations with First solar.
Based on these unit-cost estimates and number of facilities required, recycling solar modules in India is a INR 4,274 crore investment opportunity (Table 1).
| Parameter | Value |
|---|---|
| Cumulative waste | 11,221 kt |
| Number of recycling capacities required | 299 |
| Investment required | INR 4,274 crore |
Source: Authors’ analysis
Despite the significant opportunity, research indicates limited interest from producers and investors in financing this sector. This is attributed to the low maturity of recycling technologies, particularly those targeting c-Si modules, that are still at pilot stages. This and the absence of regulatory certainty—specifically, the lack of EPR targets—heightens the risk-perceptions of investors. Without these, recyclers would continue facing challenges in scaling operations and their profitability.
Market opportunity for solar module recycling
We estimate the market opportunity based on the quantum of materials recovered from the projected waste generation. Recovery rates vary for the two technologies, as shown in Table 2.
As mentioned before, about 92 per cent of the cumulative waste is from c-Si technologies and about 8 per cent is from thin-film modules. This waste contains critical minerals like silicon, copper, cadmium and tellurium, along with the precious metal silver, and others, such as aluminium and glass. We apply the material intensities and recovery rates of materials for both module technologies to estimate the weight of each recovered material in the solar waste.
Based on these rates and technology share, recycling decommissioned and discarded solar modules would support the recovery of around 656 kt of materials in 2047. Of this, around 91 per cent (596 kt) is glass, 6 per cent (38.5 kt) is aluminium, 2.5 per cent (16.6 kt) is silicon, 0.7 per cent (4.6 kt) is copper, 0.03 per cent (194 tonnes) is silver, 0.009 per cent (60 tonnes) is tellurium, and 0.008 per cent (55 tonnes) is cadmium.
The market potential from the sale of these recovered materials is estimated to be around INR 3,709 crore in 2047. The highest share comes from silver—INR 1,861 crore or 50 per cent of the total, as currently it has the highest market value among all the materials recoverable from solar (Table 3). Cadmium contributes the least—0.07 per cent.
Besides the sale of these recovered materials, the E-Waste Rules provide another revenue stream for recyclers—sale of EPR certificates to producers. The rules also mandate the Central Pollution Control Board (CPCB) to set the highest and lowest price for the trade of EPR certificates (MoEF&CC 2022). The prices are determined using the environmental compensation designed for the violators of the E-Waste Rules (CPCB 2024). Under the current provision, recyclers can generate EPR certificates for four metals (iron, aluminium, copper and gold) and sell to producers (CPCB 2024). However, due to lack of EPR targets today, solar module recyclers cannot avail this benefit.
| Material | c-Si | Thin-film modules |
|---|---|---|
| Silicon | 74 | Not applicable |
| Silver | 90 | Not applicable |
| Aluminium | 99 | 90 |
| Copper | 83 | 90 |
| Glass | 89 | 90 |
| Cadmium | Not applicable | 90 |
| Tellurium | Not applicable | 90 |
Source: Authors’ compilation from Kale, Ajinkya, and Akanksha Tyagi. How Much Does It Cost to Recycle a Solar Module in India? (New Delhi: Council on Energy, Environment and Water, 2025)—for c-Si module recycling; and from First Solar. Corporate Responsibility Report 2025. (2025)—for thin-film module recycling.
| Material recovered | Cumulative quantum of recovered materials (kt) | Market value of materials (INR/kg) | Value of recovered material in crore (INR) |
|---|---|---|---|
| Aluminium | 38.5 | 177 | 681 |
| Glass | 596 | 7 | 417 |
| Copper | 4.6 | 800 | 367 |
| Silver | 0.194 | 95,775 | 1,861 |
| Silicon | 16.6 | 200 | 332 |
| Tellurium | 0.060 | 7,992 | 48 |
| Cadmium | 0.055 | 459 | 2.5 |
| Total | 656 | 3,709 |
Source: Authors’ compilation of market values of materials from Kale, Ajinkya, and Akanksha Tyagi, How Much Does It Cost to Recycle a Solar Module in India? (New Delhi: Council on Energy, Environment and Water, 2025)—for aluminium, glass, copper, silver, and silicon; and online marketplaces—for cadmium and tellurium.
Note: The numbers for total quantum of recovered materials have been rounded-off up to 2 decimal places. The conversion rate considered is USD 1 = INR 86.
Material demand met by recycling
We use the cumulative deployment trends from 2026 onwards to estimate the demand for various materials by 2047 (Table 4). We assume this entire demand is met by domestic manufacturing.
Based on the quantum of recovered materials (Table 3), the raw material demand met for manufacturing new modules (both technologies) is the highest for silicon (60 per cent) by 2047, as represented in Figure 6. This is followed by aluminium (50 per cent), copper (44 per cent), glass (40 per cent), silver (38 per cent), tellurium (15 per cent), and cadmium (13 per cent). The total material demand met is 38 per cent by 2047.
| Material | Material demand (kt) |
|---|---|
| Aluminium | 1,305 |
| Glass | 20,060 |
| Copper | 146 |
| Silver | 6 |
| Silicon | 446 |
| Tellurium | 3 |
| Cadmium | 3 |
| Others | 1,890 |
| Total | 23,859 |
Source: Authors’ analysis
Note: ‘Others’ refer to materials such as polymer, tin, zinc and lead. The cumulative deployment from 2026–2047 for which these materials are needed is 410 GW.
Recovered metals from solar waste, such as aluminium, copper and silicon, have valuable applications across a wide range of industries. Aluminium can be reused in vehicle manufacturing, construction sites for windows, roofing and structures, and aluminium foil for packaging. Copper is essential for electrical devices, power utilities, and telecommunication systems. Silicon finds use in the semiconductor industry, chemical industry, and lithium-ion battery anodes. These applications indicate that beyond the solar industry, there are more secondary markets for recovered materials that recyclers could target to improve revenues. Figure 7 summarises these applications for the key materials.
Emissions avoided by solar module recycling
By replacing virgin material with recycled material recovered from solar modules, India can avoid significant emissions involved in the extraction and processing of virgin raw materials used in solar module manufacturing. As per our analysis, by 2047, India could avoid up to 37 million tonnes of CO₂-equivalent emissions, or 5.8 tonnes of CO2 per tonne of solar waste recycling by replacing virgin material use. These cumulative savings represent a major contribution to India’s broader climate goals, including its net-zero emissions target by 2070. Emissions are calculated per kilogram of solar module, and are reported as avoided emissions in million tonnes of CO₂-equivalent, as shown in Table 5.
Beyond just emission reductions, this shift enhances resource efficiency, curtails dependence on energy intensive raw material extraction, and mitigates the ecological burden associated with mining and manufacturing.
| Module type | Avoided emissions (million tons of CO2 eq.) |
|---|---|
| c-Si | 35 |
| Thin-film | 2 |
| Total | 37 |
Source: Authors’ analysis
Addressing the challenge of solar waste management requires exploring and putting into action effective business strategies that are compliant with e-waste regulations while ensuring the financial viability and sustainability of the businesses.
However, fragmented regulatory landscapes, uncertain material recovery economics, and evolving business incentives complicate these decisions, and solar cell and module producers are still searching for viable market strategies.
This section explores three key business strategies currently being adopted globally to manage solar waste, examining their respective operational models, financial implications, and potential for scalability: integrated recycling model, recycler-owned model, and third-party/waste management company model.
i. The integrated recycling model involves solar producers8 (often manufacturers) establishing in-house waste collection and recycling capabilities. By integrating these functions, manufacturers can gain full control over the waste management value chain, enabling better traceability, cost visibility, and quality assurance. This model also allows manufacturers to enhance their brand proposition by offering end-to-end lifecycle services to customers. However, it requires significant upfront investment in infrastructure and expertise, which may limit its feasibility for smaller manufacturers. First Solar, a leading manufacturer of thin-film modules, is an integrated manufacturer that takes back and recycles its waste modules (First Solar 2024).
First Solar’s manufacturing plant near Chennai, Tamil Nadu, exemplifies the integrated recycling business model, combining solar module production with dedicated recycling capabilities. This plant, with an installed manufacturing capacity of 3.3 GW and an in-house recycling capacity of approximately 9,514 TPA, empowers First Solar to fully control the end-of-life management of its thin-film Cd-Te photovoltaic modules.
By vertically integrating production and recycling, it ensures superior traceability, quality control, and cost efficiencies across the module lifecycle. The process involves high-value recycling, with a recycling rate of 95 per cent, to recover materials such as glass, semiconductor materials and other metals at a recovery rate of 90 per cent (First Solar 2025). These recovered materials can be used for new solar modules, glass, rubber, and aluminium products (First Solar 2024).
First Solar is the only solar manufacturer with global in-house module recycling facilities. It runs facilities in the the US state of Ohio, Malaysia, Vietnam, Germany, and India. It launched the industry’s first global recycling programme in 2005, and has since continued to invest in advanced recycling technologies to ensure responsible lifecycle management of its products, and has recycled more than 400,000 metric tonnes of solar waste (First Solar 2025). In 2024, First Solar reached an annual recycling capacity of 112,000 tonnes globally (First Solar 2025).
Source: Authors’ compilation from First Solar High-value Recycling Services 2024 and First Solar Corporate Responsibility Report 2025.
ii. In the recycler-owned model, producers outsource solar waste management to specialised recyclers. This model provides flexibility in navigating diverse regulatory requirements, while avoiding capital-intensive investments in recycling infrastructure. It also facilitates the development of technical partnerships that can leverage advanced recycling technologies. However, outsourcing may lead to reduced visibility over waste flows, and less control over material recovery outcomes. Regain Industries Pvt Ltd, for example, is a recycler of c-Si solar modules based near Surat, Gujarat, with an operating capacity of 1,800 TPA (CPCB n.d.).
Regain Energies Pvt. Ltd., based in Surat, Gujarat, is India’s first licensed solar panel recycling facility, operating under the E-Waste Management Rules, 2022. The company is pioneering efforts in establishing a scalable and compliant solar waste ecosystem, driven by innovation, traceability, and circularity.
Regain’s industrial plant spans 90,000 sq ft with an installed capacity to process 250 MW or 500,000 modules annually. Since commencing operations in April 2025, the facility has recycled over 1,000 tonnes of solar PV waste—equivalent to more than 50,000 modules—diverting them from landfills and ensuring formal recovery of critical materials.
The company uses a multi-stage hybrid recycling process, combining mechanical separation, thermal pyrolysis, and chemical recovery. This enables efficient processing of both standard and bifacial crystalline silicon modules, including those with fluoropolymer-based backsheets. Recovered outputs include high-purity silver (up to 99.9%) and 2N–4N purity silicon, high-grade aluminium, copper, and float glass. All materials are channelled into domestic secondary markets including electronics, metals, and clean energy manufacturing.
Regain collaborates with insurance companies, EPC players, and O&M providers to recover damaged or decommissioned modules across India, creating a robust reverse logistics network aligned with future EPR frameworks.
As of mid-2025, Regain has created over 65 direct jobs and plans to expand nationally using a hub-and-spoke model—with decentralised dismantling units and centralised refining hubs. The company is also actively engaged with CPCB, MNRE, GEDA, and research institutions to support policy development and standard operating procedures for solar recycling in India.
Regain’s model illustrates how recycler-led infrastructure can catalyse India’s transition to a circular solar economy—if supported by clear EPR mandates, streamlined logistics, and technology-driven scaling support.
Source: Regain Energies Pvt. Ltd
iii. The third-party/waste management company model involves engaging external agencies, typically consulting service providers or waste management companies, to fulfil regulatory obligations on behalf of producers9 . These intermediaries manage the full spectrum of compliance, including documentation, collection logistics, recycling, and reporting, often through a shared infrastructure model. This strategy offers a cost-effective and low-risk pathway for compliance, particularly for small and medium-sized enterprises. Additionally, it provides a buffer against potential liabilities in the event of operational or financial disruptions. PV CYCLE is a European non-profit organisation offering solar waste management services across the continent to help companies fulfil their obligations under Waste Electrical and Electronic Equipment regulations (PV CYCLE n.d.).
Comparative assessment of solar module recycling business strategies
Each of the three models discussed previously have their own advantages and limitations. This section compares these models on various parameters, including finance (investment, revenue, and profitability) (Table 6), operations (recycling setup, reverse logistics) (Table 7), and regulations (compliance) (Table 8) from a producer’s perspective. This multidimensional lens enables a structured evaluation, and allows producers to choose a model suiting their requirements.
PV CYCLE stands as Europe’s pioneering collective initiative for solar waste management, enabling manufacturers, importers, and installers to responsibly manage solar modules at their end of life. Established in 2007, PV CYCLE acts as an intermediary managing regulatory compliance for solar module producers under the Waste Electrical and Electronic Equipment (WEEE) directive. It has built an integrated network across the EU, UK, Japan, Brazil, and Mauritius by engaging external partners in collection, logistics, recycling, and reporting. PV CYCLE offers producers a cost-effective solution to meet their legal obligations without bearing direct operational risks. The programme’s operational reach encompasses both crystalline silicon and thin-film modules, catering to the diverse landscape of deployed solar assets.
Relying on a multi-stage approach, it employs advanced mechanical, thermal, and chemical processing to maximise material recovery rates. This includes the separation and purification of glass, metals, and semiconductor materials, which are then reintroduced into European manufacturing value chains.
It has processed a total of around 65,000 tonnes of solar modules from 2021 to 2024, contributing to major reductions in landfill waste and virgin material demand (PV CYCLE 2025). This model demonstrates how centralised, multi-stakeholder waste management programmes can accelerate the industry’s transition towards a closed-loop, low-carbon future.
Source: Authors’ compilation from PV CYCLE. Annual Report 2024. 2025 and PV CYCLE. About PV CYCLE. https://pvcycle.org/about-pv-recycle
| Indicator | Integrated recycling model | Recycler-owned model | Third-party/waste management company model |
|---|---|---|---|
| Investment burden | High: Requires high capital investment by producers, due to the need to set up internal recycling units. The cost would increase if the producer (relevant for manufacturer) choses to purify materials to the grade required for reuse in the manufacturing of new products. | Not applicable: Avoids upfront capital investment by producers, as they can tie up with recyclers having the necessary technical capabilities. The financial burden to set up waste management infrastructure shifts to recyclers. Recyclers managing multiple e-waste streams can reduce some costs due to common infrastructure (such as for material refining). The manufacturers would have to pay an operational fee to the recyclers to finance their waste management. This model is operational in the US, where recyclers like SOLARCYCLE offer services to producers and plant owners (SOLARCYCLE n.d.). | Not applicable: Avoids large capital investment by producers, as they can tie up with waste management companies. These companies coordinate collection, logistics, and compliance, using existing networks and partnerships with aggregators and recyclers to support compliance requirements for producers. The producers have to pay membership fees for the services for compliance management, documentation, and logistics coordination. SOREN is a non-profit PRO, founded by the French solar industry, to manage its compliance under the WEEE regulations (WEEE Forum n.d.). It also runs a state accredited take-back scheme for financing solar waste. |
| Opportunity for revenue maximisation | High: Producers (typically manufacturers) can reuse high-purity recovered materials in their own production. This internal reuse not only offsets raw material procurement costs, but also insulates manufacturers from fluctuations in external raw material markets. Such circular loop manufacturing also allows them to gain carbon credits, such as avoided emissions associated with virgin materials. | Medium: No direct revenue for producers as the revenue from sales of recovered materials goes to recyclers.10 However, manufacturers can have buy-back partnerships with recyclers to use the recovered materials, that could yield similar benefits as the integrated recycling model. In such a scenario, recyclers have better visibility of the purity requirements from manufacturers, and can better manage their processes to improve recycling and recovery rates11. For instance, Hanwha Qcells, a leading solar module manufacturer, and Korea Zinc, a non-ferrous metal smelter, have signed an agreement to establish a materials circularity system for waste solar panel recycling (World Economic Forum 2025). The scope covers solar waste from manufacturing as well as installed capacity. In 2024, Korea Zinc recycled approximately 35,000 panels supplied by Hanwha Qcells. | Not applicable: No direct revenue for producers. The waste management company generates revenue primarily through service fees charged to producers for waste collection, compliance support, documentation, and coordination with recyclers under EPR. Additionally, these companies may act as market intermediaries for recovered materials, aggregating and selling them through secondary channels. However, as they do not conduct recycling operations themselves, they have lesser control over the quality and volume of high-value material recovery, limiting the ability of producers to benefit from circular systems. |
| Payback and Internal Rate of Return (IRR) | Medium: Owing to the substantial capital investment required, and the expectation of high revenue generation, both the payback period and the IRR for the project are projected to fall within a moderate range, reflecting a balanced financial outcome characteristic of projects with significant initial outlays and robust cash flow potential. | High: Due to the relatively low operational fee required for this model, both a high IRR and a short payback period are anticipated, indicating efficient capital utilisation and rapid recovery of the initial outlay. | High: Due to the relatively low operational fees required for this model, both a high IRR and a short payback period are anticipated, indicating efficient capital utilisation and rapid recovery of the initial outlay. |
Source: Authors’ analysis
| Indicator | Integrated recycling model | Recycler-owned model | Third-party/waste management company model |
|---|---|---|---|
| Type of recycling setup (centralised vs decentralised infrastructure) | This model would be more suitable for a centralised setup, due to the high investment and scale of operations. Further, the operational reach of this model is limited to vertically integrated manufacturers, as they would have the necessary infrastructure to recycle and recover materials from solar waste. However, such manufacturers must also partner with other producers or bulk consumers (utility scale project developers), so as to get a recurring and assured waste supply. | This model offers high operational flexibility for producers, as they can choose a distributed network of recyclers to cater to their portfolio of manufacturing and deployment. Recyclers have the autonomy to set up decentralised collection, or dismantling centres, or use mobile units for dismantling to recover aluminium frames and glass. Centralised recycling facilities would be better to process solar cells present inside the module. The model's ability to customise logistics, fit to dispersed waste generation, and operate across diverse geographies makes it highly adaptable in the Indian context, where both centralised solar parks and distributed rooftop systems are growing. | This model does not have any constraints for recycling setup, as the producers rely on waste management entities to fulfil their obligations in the best possible manner. Hence, producers have high operational flexibility, as they can cover their entire portfolio via waste management companies. These companies, in turn, can tap into existing networks of aggregators, transporters, and processors, and are typically equipped to manage compliance, reporting, and logistics, for both large and small producers. Their reach depends largely on the robustness of partnerships and the digital platforms they use for traceability. |
| Ease of reverse logistics | Medium: This model offers good operational ease for producers to collect their waste as they have good traceability of their products (quantum as well as location). However, if they were to do the logistics alone, the costs can be a big challenge. Working with aggregators and channel partners can reduce this burden. | Not applicable: As there is no obligation on producers to collect and recycle waste in this model, it is not an issue for producers. Recyclers typically have a good network of aggregators that provide good volumes of waste to process. This process can become easier if producers share the consumer data with the recyclers and aggregators. | Not applicable: As there is no obligation on producers to collect and recycle waste in this model, it is not an issue for them. Waste management entities use their existing network to ensure compliance for their member producers during collection and disposal. |
Source: Authors’ analysis
| Indicator | Integrated recycling model | Recycler-owned model | Third-party/waste management company model |
|---|---|---|---|
| Regulatory burden | High: As producers are in-charge of the entire waste management process, the regulatory burden is high for this model. They must comply with both environmental and industrial norms related to manufacturing and recycling, such as getting necessary approvals and updating records on EPR portal. | Medium: As producers have tied up with recyclers, the direct regulatory burden on them is lower than the integrated model. Here, recyclers shoulder much of the operational and compliance responsibilities, including collection, transportation, dismantling, recycling, and documentation. | Low: This model is designed to offload regulatory burden from producers as the waste management companies are in-charge of these processes. Producers benefit from compliance outsourcing, making this model attractive for small-scale manufacturers and importers. |
| Alignment with circularity principles | High: This model shows moderate to strong alignment with circularity principles. Internal recycling enables a closed-loop system, which inherently supports the spirit of EPR, encouraging design for recyclability and lifecycle responsibility. Since recycling is integrated with manufacturing, producers can better track material recovery, thereby easing reporting requirements. | Medium: The alignment with circularity principles in this model is less than in the previous model, as it is linked to the performance of the recycler, and the arrangements between producer and recycler. Recyclers have the flexibility to choose processes as well as manage their expenses and revenues. Unless recyclers are actively working with manufacturers, they will not have an incentive to recover high-grade materials that can be reintroduced in to manufacturing, allowing manufacturers to have closed-loop systems. | Low: This model is explicitly designed to fulfil regulatory compliance of producers, and has no motive to support them in attaining circularity in business. These companies specialise in compliance, documentation, and coordination, often aggregating waste from multiple producers to meet target obligations. As the model lacks direct control over recycling processes, there are concerns around transparency of data on recycling and recovery rates, and the environmental impacts of recycling. Engagement with informal aggregators or recyclers could further dilute the producers' alignment with the circularity principles, unless strict monitoring and audit protocols are enforced. |
Source: Authors’ analysis
Proposed business model for solar PV recycling in Indian ecosystem
Based on the above comparison and stakeholder consultations, the recycler-owned model stands out as the most suitable for the current status of India’s solar industry. The reasons described below are due to the unfavourable dynamics of the integrated recycling model, and the favourable aspects of the recycler-owned model: • Absence of upstream value chain of solar module manufacturing in India renders integrated recycling model unviable: Although the integrated recycler model performs best for indicators like opportunity for revenue-maximising and alignment with circularity principles, the benefits are difficult to realise as this segment of manufacturers is currently absent in India. The development of this segment in the coming years can potentially improve the uptake of this model.
• High regulatory and monetary burden on producers renders integrated recycling model difficult to operationalise: The recycler-owned model shields producers from any upfront investment in recycling infrastructure, or regulatory burden related to operationalising it. On the other hand, recyclers already have infrastructure and are familiar with handling existing and new technologies. This familiarity makes the overall process of setting up and running a module recycling facility efficient. However, optimisation of implementing a specific recycling technology to recover interested materials at scale necessitates collaborations with other technology providers, and efficient planning of resources.
• Complementarity of recycling infrastructure and skills across sectors improves feasibility of recyclerowned model: While solar module recycling can require dedicated machinery, our field observations suggest that some electronic and battery recycling machines are highly complementary. Some of these machines such as shredders and crushers are used in dismantling e-waste, batteries, and also in metal refining. Further, the workforce active in e-waste or battery recycling will also have the knowhow, and could work in solar module recycling. Hence, recyclers will have an easy start for solar module recycling, compared to producers who would have to start from scratch. Care must be taken to ensure that recyclers understand their output requirements while using machinery from complementary industries. Additionally, upskilling of the workforce must be ensured so that they understand the waste and its material composition.
In summary, the flexibility and scalability of the recyclerowned model makes it the most robust option for India’s current and future needs. This model is adaptable to handle waste from both large utility scale and distributed renewable energy (DRE) systems.
The modularity of the recycler-owned model makes it the most robust option in the current regulatory setup.
This report provides much-needed quantitative evidence on India’s solar module recycling industry by sizing the capacity requirement, market and investment opportunity, contribution of recycling in strengthening the mineral supply chain, and emissions reduction. It also identifies certain challenges that are constraining the growth of this industry in India. These include:
• A weak regulatory framework for solar waste management that deters private sector investment in setting up and scaling up collection and recycling infrastructure, and in research and development of advanced recycling technologies.
• A lack of off-takers or end-markets for the recovered materials from recycling.
• The absence of scalable and commercial recycling technologies, which deters financiers from investing in the sector.
• A lack of granular spatial data on solar capacity deployment and manufacturing, which impedes strategic deployment of waste management infrastructure by recyclers and producers.
To overcome these barriers and realise the INR 3,709 crore market opportunity, we propose the following recommendations for the key stakeholders: policymakers, solar producers, recyclers, and investors.
1. Policymakers must coordinate their efforts to provide clear and ambitious signals with long-term certainty to the solar industry, to drive investments into different circular economy strategies.
• The MoEF&CC should strengthen the EPR framework for solar waste management—introducing collection and recycling targets, allowing EPR credit generation for all metals found in solar cells and modules, and setting reuse mandates for recovered materials on solar cell and module manufacturers. The EPR targets can start from FY 2026–27, with 40 per cent for collection, 80 per cent recycling, and include recovery targets for individual materials, gradually increasing thereafter, matching the anticipated waste generation. The EPR framework should also put more accountability on bulk consumers of solar cells and modules12. This can include mandatory filing of their solar waste on the EPR portal annually, handing over the solar waste to authorised recyclers, and contributing to the financing of solar waste management.
• The MNRE should constitute and lead a distinct circular solar task force, to advance government- and privatesector action on this topic. The task force should have representatives from the Ministry of Power, MoEF&CC, CPCB, NITI Aayog and the Bureau of Indian Standards (BIS), and different industry associations in the solar industry and recyclers. It should focus on building the circularity ecosystem by focusing on aspects such as
i. aligning and defining circularity indicators and standards for the solar industry,
ii. streamlining the compliance and incentives across different schemes (such as domestic content requirement with reuse mandates and demand for products designed for circularity etc.),
iii. identify financing mechanism for recycling, build digital traceability in the solar supply chains, and
iv. capacity building and sensitisation of key stakeholders.
2. MNRE should maintain centralised inventory system for solar to support planning for recycling infrastructure. An important aspect of deploying recycling infrastructure is access to granular data on manufacturing facilities and deployed solar capacity. This information will help recyclers assess waste volumes, identify locations to strategically bring up waste management infrastructure, and identify collection routes based on solar clusters. Some of the important data points for manufacturing include location, annual capacity, and module technology and material composition, and for deployment, include geo-location, capacity deployed, commissioning date, etc. Details about module technology and material composition would help recyclers select technologies that maximise the recovery of individual materials.
Implementation approach:
• The MNRE can collaborate with state nodal agencies, solar project developers, distribution companies, and manufacturers to gather this data. Existing databases of different schemes and installation registries can be integrated into the system to minimise duplication, and enhance accuracy.
• The database could leverage the existing provision of putting RFID tags on solar modules to enable spatial visualisation of solar installations and waste hotspots. This will assist in identifying geographic clusters with high waste generation potential.
• The inventory should be made publicly accessible through an online platform with verified credentials, allowing recyclers, policymakers, and other stakeholders to access real-time data. The CPCB’s EPR portals are a good reference to set up and operate such digital platforms. This transparency facilitates planning and collaboration across the solar waste value chain.
• The inventory should support dynamic updates, allowing for continuous addition of new installations and retirement data. Periodic audits and cross-verification with field data should ensure the database remains accurate and relevant.
3. E-waste recyclers should leverage their existing machinery and skills for solar module recycling to expedite scaling of waste management infrastructure. They should also continue investing in efficient recycling processes to improve the recovery rates and purity grades of recycled materials. An efficient way to bring up and manage the required recycling infrastructure by 2047 is to set up a distributed network of collection and dismantling units, with more centralised recovery units. Dismantling units can focus on taking out aluminium and glass from solar modules, which could be sent to dedicated refiners. The remaining PV laminate can be recycled at rather centralised facilities.
Figure 8 shows a schematic of this proposed setup. Setting up regional recycling hubs can streamline operations, reduce logistics costs, and enable better material recovery. Further, dismantling units can also make use of machines at this stage that are complementary to other sectors such as battery and e-waste recycling. Utilising these available assets can substantially reduce the initial capex required to set up dedicated solar module recycling facilities. Furthermore, this strategy promotes the optimal utilisation of underused installed capacities within existing recycling. At the same time, recyclers should also focus on designing efficient recycling processes for enhanced recovery of high purity materials. Developing and scaling advanced recycling processes would take considerable time and hence the recyclers should focus on it simultaneously as they leverage the existing common infrastructure.
Establishing a solar module recycling ecosystem is essential to manage rising solar waste, recover valuable materials, and reduce import dependence. It can create economic and social opportunities, support domestic solar manufacturing, lower carbon emissions, and ensure resource security, making it a key enabler of India’s clean energy transition and circular economy goals.
The module recycling industry faces key challenges, including the absence of clear regulatory mandates, a lack of granular spatial data on solar capacity deployment and manufacturing to identify waste hotspots, limited efficiency and scalability of current recycling technologies, and weak domestic markets for recovered materials. These barriers restrict commercial viability and hinder large-scale adoption in India.
Market growth will be driven by the rising volume of end-of-life solar modules, introducing collection, recycling and recovery targets under Extended Producer Responsibility (EPR) for solar waste, improving recycling technologies, and increasing demand for recovered materials in domestic manufacturing. Policy incentives and private sector investments will further support industry expansion and commercial viability.
Existing business models for solar module recycling can be categorised into three categories based on their operational models, financial implications, and potential for scalability. These include the integrated recycling model, the recycler-owned model, and the third-party/waste management company model.
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