If solar power systems are to genuinely be sustainable and environmentally ethical, the waste reduction associated with solar components must be addressed. End-of-life solar panel recycling can save an abundance of natural resources and reduce production costs.
Solar panel recycling can be beneficial both environmentally and economically because the energy and cost needed to recover the silicon material from recycled solar panels is only about one-third of what it would be for manufacturing silicon directly. Solar panel recycling can help finance future solar industries because 96% of the materials can be reused to produce new solar panels. It is estimated that recycled material could save USD 450 million by 2030 and USD 15 billion by 2050. Research also shows that around 60 million new solar panels can be produced from recycling by 2030 and around 2 billion by 2050. In addition, recycling plants can create more employment opportunities for job seekers.