The rapid growth of the global solar photovoltaic (PV) market is crucial for a low-carbon future, but it also increases demand for raw materials and future PV panel waste. To address these challenges, the solar industry must adopt circular business models that minimize waste and maximize resource efficiency.

The study authored by CIRCUSOL colleagues Lars Strupeit, Nancy Bocken and Wim Van Opstal "Towards a Circular Solar Power Sector: Experience with a Support Framework for Business Model Innovation" examined five cases that applied a Circular Business Model Innovation (CBMI) framework within the PV sector. The study found that an experimental and iterative approach is vital for assessing the viability, desirability, and feasibility of circular strategies through the stages of ideation, design, experimentation, and scaling.

Using multiple tools at each stage provided complementary insights, enhancing the innovation process. For instance, lifecycle assessment tools during design and market analysis tools during scaling offered valuable guidance.

The study emphasises the need for co-creative and experimental approaches to foster learning and innovation. Policymakers and business leaders should support these strategies to drive the renewable energy sector towards a Circular Economy, ensuring sustainable growth of the PV market.

In conclusion, adopting circular business models is essential for the sustainable expansion of the solar PV market, addressing environmental challenges and fostering a resilient renewable energy industry.

Link to CIRCUSOL publications.