Recycling of solar panels consisting aluminium is a multi-billion dollar money-spinner, IRENA

More than 23 million solar panels are installed in Australia and 222 gigawatts+ of PV modules are in place globally. This will present a significant business opportunity in recycling says the International Renewable Energy Agency (IRENA).

By weight, a solar panel mainly consist of aluminium, glass and silicon. More than 90 per cent of a module’s weight can be recycled into more solar panels or other items – and it can be done at a profit.

Reduce, reuse, recycle are the 3R’s of sustainability. The concept applies to “green” products such as solar modules made out of aluminium and other recyclable materials as much as any other. While good quality solar panels have a lifespan of decades; they will ultimately wind up as waste.

A report released earlier today by IRENA and the International Energy Agency’s Photovoltaic Power Systems Programme (IEA-PVPS) states solar panel waste could total 78 million tonnes globally by 2050.

Even by the end of this year, the cumulated PV waste stream is expected to have reached anywhere from 43,500-250,000 metric tonnes. Solar panel waste only accounts for a tiny percentage of global e-waste now, but by 2050, the amount of PV waste added annually could exceed 10 per cent of the record global e-waste added in 2014.

It presents a major challenge, but also a multi-billion dollar opportunity as most of the materials in a solar module can be reclaimed.

“If fully injected back into the economy, the value of the recovered material could exceed USD 15 billion by 2050,” states IRENA. “This potential material influx could produce 2 billion new panels or be sold into global commodity markets, thus increasing the security of future PV supply or other raw material-dependent products.”