China has established a PV module recycling policy framework comprising 38 national policies and over ten standards, forming preliminary disposal capacity. However, the industry still faces three major bottlenecks: inadequate techno-economic viability, the absence of a nationwide recycling network, and frequent irregularities in recycling practices. Addressing these challenges requires systematic advancement of industrialisation through measures such as refining targeted policies, fostering top-tier enterprises, and innovating smart recycling models.

China, as the world's leading country in PV installed capacity, is facing the severe challenge of decommissioning its first large-scale batch of PV modules. It is estimated that by 2040, the cumulative volume of discarded modules will exceed 20 million mt, presenting both resource recovery value and environmental risks. Policies have been intensively introduced at the national and local levels to accelerate the establishment of a full life cycle management system, spanning from "green design" to "high-value utilization." An industrial transformation, turning the "decommissioning wave" into a "resource wave," is now underway. PV module recycling is expected to evolve from a "loss-making endeavor" into a new blue-ocean industry worth hundreds of billions of yuan.

On September 11, to accelerate the reduction of industrial solid waste at the source and promote its large-scale utilization, enhance the comprehensive utilization of renewable resources, and develop high-end intelligent remanufacturing, the Ministry of Industry and Information Technology (MIIT), the National Development and Reform Commission (NDRC), and the Ministry of Ecology and Environment issued the *National Directory of Advanced Applicable Process Technologies and Equipment for Comprehensive Utilization of Industrial Resources (2025 Edition)* (hereinafter referred to as the *Directory*). According to the *Directory*, the process technologies and equipment selected for 2025 primarily target four areas: source reduction of industrial solid waste, comprehensive utilization of industrial solid waste, comprehensive utilization of renewable resources, and remanufacturing of mechanical and electrical products. Among these, the technologies related to PV modules mainly include the following: equipment for the comprehensive utilization of silicon sludge from diamond-wire slicing of PV industrial solid waste; technology and complete equipment for efficient disassembly and clean recycling of decommissioned crystalline silicon PV modules; complete equipment for the resource utilization of fluorine-containing wastewater in the PV industry through mineral phase reconstruction; and intelligent, precise disassembly technology for decommissioned PV modules.

As the global energy transition accelerates, PV power generation, as a representative of clean energy, continues to experience rapid growth in installations. However, with early installation projects approaching the end of their life cycles, the issue of large-scale PV module retirement and disposal is becoming increasingly prominent. The recycling of resources and harmless treatment of these modules are urgently needed, giving rise to a significant emerging market.

[SMM Silicon-Based PV Morning Conference Summary] Silicon Metal: Yesterday, SMM oxygen-blown #553 silicon in east China was quoted at 9,400-9,600 yuan/mt, flat from the previous day. The trading range of the most-traded contract in the futures market pulled back compared to the previous day. The SI2511 contract opened at 8,930 yuan/mt, hit a low of 8,855 yuan/mt, and closed at 8,925 yuan/mt, down 25 yuan/mt from the previous day. Supplier quotations were somewhat chaotic, with some silicon enterprises maintaining firm offers due to smooth purchases earlier, while futures traders' quotes weakened in absolute terms as futures pulled back. Polysilicon: Polysilicon N-type recharging polysilicon was quoted at 50.3-55 yuan/kg, granular polysilicon at 49-50 yuan/kg, and the polysilicon price index at 52.44 yuan/kg. Market prices remained generally stable, and transactions progressed steadily. Crystal pulling plants showed some resistance to high-priced resources. Polysilicon enterprises maintained a certain firmness in market sentiment due to their own inventory levels.

At the SMM Indonesia Seminar: Li-ion Battery & Energy Storage hosted by SMM, Katherina Dong, New Energy Business Director at SMM, shared insights on the topic of "Global Battery Energy Storage System Macro and Technology Iteration."

[SMM Silicon-Based PV Morning Meeting Minutes: Silicon Metal Offers Rise, Centralized Module Price Center Declines] Over the weekend, polysilicon N-type recharging material was quoted at 50.2-55 yuan/kg, the N-type polysilicon price index was 52.46 yuan/kg, and granular polysilicon was quoted at 49-50 yuan/kg. Polysilicon prices remained temporarily stable over the weekend. As downstream crystal pulling plants had previously stockpiled sufficient raw material inventory, the market adopted a wait-and-see approach following last week's actual price rise. Currently, low-priced resources are scarce and hard to come by, while high-priced resources face significant resistance, leading to a divergence in the market.

On September 16, the Standardization Administration of China (SAC) solicited public opinions on three mandatory national standards, including "Energy Consumption Limits per Unit Product for Polysilicon and Germanium" and others.