Recovering and reusing materials from discarded solar panels could become a Rs 3,700 crore market opportunity in 2047, according to two new independent studies released by the Council on Energy, Environment and Water (CEEW).
The studies note that if this potential is realised, recycling valuable materials such as silicon, copper, aluminium, and silver from solar waste could supply 38 per cent of the sector’s manufacturing inputs by 2047 and avoid 37 million tonnes of carbon emissions by replacing virgin resources with recycled ones. Currently, India’s solar module recycling market remains in its infancy, with only a few commercial recyclers operating.
The twin CEEW studies provide India’s first comprehensive blueprint for developing a domestic solar recycling ecosystem that promotes both clean energy and manufacturing self-reliance. By 2047, India’s installed solar capacity could generate over 11 million tonnes of solar waste, largely from crystalline-silicon modules. Managing this volume would require nearly 300 recycling plants and an estimated investment of Rs 4,200 crore.
“India’s solar revolution can power a new green industrial opportunity. By embedding circularity into our clean energy systems, we can recover critical minerals, strengthen supply chains, and create green jobs—while turning potential waste into lasting value,” said Rishabh Jain, fellow at CEEW.
The studies also note that solar recycling is currently unviable, with recyclers incurring losses of Rs 10,000–12,000 per tonne. The biggest expense is buying back waste modules, accounting for nearly two-thirds of total costs (around Rs 600 per panel), followed by collection, processing, and disposal costs. For recycling to become profitable, modules would need to be priced below Rs 330, or recyclers should be supported through EPR certificate trading, tax incentives, and R&D in efficient recovery of silicon and silver.
“Solar recycling can bridge India’s clean energy and manufacturing ambitions. Beyond managing waste, it’s an opportunity to innovate—designing panels for easier recovery, improving material purity, and creating new value chains around critical minerals,” said Akanksha Tyagi, Programme Lead at CEEW.
The CEEW studies recommend introducing EPR targets for collection and recovery under the E-Waste (Management) Rules, 2022, overseen by the Ministry of Environment, Forest and Climate Change, alongside a Circular Solar Taskforce under the Ministry of New and Renewable Energy to align policy, finance, and industry action.
Other proposals include a centralised solar inventory to identify waste hotspots and requiring producers to share material data and design modules for easy disassembly. Together, these measures aim to build robust collection systems, spur R&D in material recovery, and embed circularity into India’s renewable energy missions—keeping the clean energy transition resource-resilient and self-sustaining.
