Solar technology has blazed a trail down cost curves as more efficient technology has evolved over the past few decades. Many earlier-model solar panels are now being decommissioned to make way for more advanced technology. That’s driving recycling efforts that can divert panels from landfills and create a domestic supply of in-demand elements like silicon, aluminum and silver as tariffs spike the cost of imports.
“This presents an opportunity for us and other recyclers to recover some of the high-waste, critical metals resident in panels and reintroduce them back into the domestic supply chain,” André Pujadas of solar recycling startup OnePlanet, told ImpactAlpha.
Jacksonville, Fla.-based OnePlanet this week raised a $7 million seed financing round to support the construction of a first-of-a-kind in nearby Green Cove Springs, Fla. When it is completed in 2027, the “River City” plant will be able to process an estimated 2 million photovoltaic modules, rising to 6 million modules by 2030.
FOAK plant
The funding round was led by Khasma Capital, an investment firm focused on circular economy tech and “FOAK” plants like OnePlanet’s. “This investment reflects our belief that solar module recycling is not only necessary – it is investable at scale, with durable tailwinds driven by regulation, economics, and resource security,” said Ashlynn Horras of Khasma Capital, which recently rebranded from Nexus Development Capital.
At OnePlanet, Pujadas draws on his experience at Nucor, a steelmaking company that helped pioneer the electric arc furnace and upcycle scrap metal into low-carbon steel. The company says its state-pf-the-art River City facility will plant fully automate the separation and recovery of materials for high purity outputs.
Tax credits
OnePlanet was also awarded a $14.5 million Investment Tax Credit in January under a Department of Energy advanced energy and manufacturing program. The fate of the tax credit, along with others established under the Biden-era Inflation Reduction Act, is uncertain as the Trump White House seeks to roll back climate-focused incentives.
Pujadas believes the investment tax credits, which help build domestic supply chains and are the subject of fierce lobbying, will be upheld.
“We don’t know what’s going to happen,” he said. “Nevertheless, it’s not slowing us down in terms of momentum, we’re going full force.”
