A new IRENA report says that recovered solar PV materials could become a multibillion-dollar market by 2040
The value of recovered materials could reach $810 million by 2030, $6 billion by 2040, and more than $20 billion by 2050, led by aluminum and silver
It says recycling is only part of the solution, with reuse and better product design also needed for a circular economy
The market value of materials recovered from end-of-life solar PV panels could reach $810 million by 2030, and $6 billion annually by 2040, says the International Renewable Energy Agency (IRENA) in a new report. The agency said the value could rise to more than $20 billion by 2050 as the volume of retired panels increases.
Nearly half of the value by 2050 will come from aluminum, followed by silver with a 33% share, silicon with an 11% share, and copper with a 7% share.
According to IRENA’s estimates, the cumulative solar PV waste by the end of 2025 was around 700,000 to 1 million tonnes (Mt), with most waste streams originating in Australia, China, the European Union (EU), Japan, and the US. Of this, around 400,000 tonnes was generated in 2025.
By 2035, the global cumulative amount of end-of-life solar PV panels will exceed 12 Mt, with G20 member nations and regions accounting for over 90% of this future waste stream. The European Union will have the largest share of this since it deployed large amounts during the 2000s. Each of the other larger markets, including China, Japan and the US, will account for more than 1 Mt of cumulative waste.
The report estimates that end-of-life solar PV waste could exceed 200 Mt globally by 2050 under IRENA’s 1.5°C Scenario, with annual waste surpassing 25 Mt, equivalent to more than 400 GW of PV capacity. Managing this volume could require at least 120,000 heavy-truck trips and more than 150 medium-sized treatment facilities.
Moreover, IRENA expects solar PV waste to account for more than 21% of the global weight of electronic waste by 2050, compared with less than 1% today.
Solar PV installations meanwhile continue to increase. Under the 1.5°C Scenario, the global installed solar PV capacity will need to increase from 2.38 TW in 2025 to over 5 TW by 2030, and more than 18 TW by 2050 as this technology provides half of the needed renewable energy capacity.
“These are all indicators of an urgent need to invest in infrastructure for the transport and treatment of this e-waste stream,” stress the analysts.
In its July 2026 report, End-of-life management for a circular economy: Solar PV panels, IRENA says recovered materials could include glass, silicon, aluminum, silver, and copper. It said circular economy practices could reduce demand for virgin materials while creating economic opportunities.
Material demand for solar PV has been rising sharply with the industry’s rapid expansion. In 2024, material use for solar modules was more than seven times higher than in 2014. Under IRENA’s 1.5°C Scenario, annual material demand is expected to exceed 31 Mt by 2030, about 18% higher than in 2024, with glass accounting for the largest share.
Recovered materials from systematically collected end-of-life solar panels could meet 70% of the global silver demand, and 20% of the demand for aluminum, copper, glass, and silicon that the solar PV industry needs.
At the same time, the report writers stress that improper disposal of heavy metals such as lead and cadmium can lead to environmental pollution, which is rampant in several developing markets because of an informal recycling industry, according to the report.
IRENA thus recommends adopting a circular economy – reduce, reuse, recycle – to manage end-of-life solar panels. This process starts from the design and production stage to minimize waste generation and make it easier to reuse and recycle solar PV.
Reuse can involve repair, refurbishment, testing, and certification, while recycling can recover materials through mechanical, chemical, and thermal processes. China and the European Union (EU), with their policy structure, are integrating circularity in new PV technologies.
However, the authors identify several barriers to reusing solar PV components at a global scale. These include high collection and transportation costs, limited recycling infrastructure, inconsistent feedstock, a lack of standards and information, and low economic returns for some recovered materials.
IRENA also calls for clearer environmental rules, defined responsibilities for collecting and treating end-of-life panels, better data systems, standardized testing and certification, and financial support for research and development. The report also highlights the need for international cooperation and greater participation from manufacturers, project owners, recyclers and governments.
The complete report is available for free download on IRENA’s website.
