CEEW: India’s Solar Waste Could Unlock ₹3,700 Crore Circular Economy by 2047, Driving Recycling and Self-Reliance

Recovering and reusing materials from discarded solar panels could emerge as a ₹3,700 crore market opportunity by 2047, according to two new independent studies released by the Council on Energy, Environment and Water (CEEW). The studies project that recycling valuable materials such as silicon, copper, aluminium, and silver from end-of-life solar modules could meet up to 38% of India’s solar manufacturing input needs and avoid 37 million tonnes of carbon emissions by replacing virgin materials with recycled ones.

Currently, India’s solar module recycling market remains at a nascent stage, with only a handful of commercial recyclers in operation. The twin CEEW reports provide the country’s first detailed roadmap for building a domestic solar recycling ecosystem, aligned with India’s clean energy and manufacturing self-reliance goals.

By 2047, India’s installed solar capacity is expected to generate over 11 million tonnes of solar waste, largely from crystalline-silicon modules. Managing this waste would require nearly 300 recycling facilities across the country and an estimated investment of ₹4,200 crore, the studies revealed.

“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, CEEW. “Building this circular economy is crucial for India’s resilient and responsible growth.”

However, the studies noted that solar recycling in its current formal setup remains financially unviable, with recyclers incurring losses of ₹10,000–12,000 per tonne. The biggest operational cost lies in buying back waste modules, accounting for nearly two-thirds of total expenses (around ₹600 per panel), followed by collection, processing, and disposal.

For recycling to become profitable, module prices would need to drop below ₹330 per panel, or recyclers must be supported through Extended Producer Responsibility (EPR) certificate trading, tax incentives, and R&D investments in efficient material recovery—particularly of silicon and silver.

“Solar recycling can be the bridge between India’s clean energy and manufacturing ambitions,” said Akanksha Tyagi, Programme Lead, CEEW. “Beyond managing waste, it’s an opportunity to innovate—by designing panels for easier recovery, improving material purity, and creating new value chains around critical minerals.”

To drive large-scale adoption, the CEEW studies recommend:

Setting EPR targets for collection and recovery under the E-Waste (Management) Rules, 2022, led by the Ministry of Environment, Forest and Climate Change (MoEFCC).

Establishing a Circular Solar Taskforce under the Ministry of New and Renewable Energy (MNRE) to align policy, finance, and industry efforts.

Creating a centralised solar inventory to identify waste hotspots and encouraging producers to share material data and design panels for easy disassembly.

According to CEEW, these steps would strengthen India’s circular economy, boost R&D in material recovery, and ensure that the country’s renewable energy transition remains resource-efficient, sustainable, and self-reliant.