According to SMM, the residual silver paste from solar panels has become a highly sought-after recycling material for PV plants, electronics factories, and recyclers against the backdrop of a significant rise in silver prices in 2025. There are two methods for processing this type of recycling material. One is pyrometallurgical high-temperature smelting, which yields a product purity of 99.9%, but the cost is 0.8 yuan per gram higher, making it suitable for large-scale factories. The other is the wet method (nitric acid dissolution), which achieves a product purity of 85%, with lower costs but higher pollution. Despite multiple rounds of surprise inspections by the environmental protection bureau, the allure of high profits still makes it difficult to completely eliminate the small-scale workshop model of low-cost, high-pollution wet processing.