Recently, G20 Indian Sherpa India's Amitabh Kant said that circular economy could generate a market value of over $2 trillion and create 10 million jobs by 2050.
Circular economy – It refers to an economic system designed to eliminate waste, maximise resource efficiency, and maintain products and materials at their highest quality for as long as possible
3 principles of circular economy
Eliminate waste and pollution
Circulate products and materials (at their highest value)
Regenerate nature
Need – India’s installed solar capacity is 66.7 GW as of FY23, has generated about 100 kilotonnes (kt) of waste, which will increase to 340 kt by 2030.
Around 67% of this waste is expected to be generated in 5 states- Rajasthan, Gujarat, Karnataka, Andhra Pradesh, and Tamil Nadu.
The addition of new solar capacities by 2030 to meet India’s nationally determined contribution targets under Paris Agreement could create cumulative solar waste of 19 million tonnes by 2050.
Circularity in solar sector – It can be done through smarter product design, longer use, recycling and more, as well as regenerate nature.
Use recycled aluminium in frames
Use solar glass in new modules
Reduce use of critical minerals such as copper and silver
