The Fastest Growing Trends in Electronics Recycling

Your old smartphone is bad for the planet. Not to pin all the blame on you; everyone who uses electronic devices like phones, tablets, laptops and gaming consoles is contributing to the trend known as electronic waste.

People love getting the latest and greatest devices; they love switching to a new phone every two years. But all of this planned obsolescence has a price: When electronic waste (e-waste) isn't properly handled and recycled, it can release toxic substances into the environment. It's also incredibly wasteful to just throw away old phones or other devices that can be reused or sold or harvested for valuable parts and metals inside.

Let's look at a few big trends in electronics recycling, what you can do to help -- and how "going green" to protect the environment can put some extra "green" (dollars) in your bank account.

1. Electronic waste is piling up fast

According to data cited by the World Economic Forum, 5.4 billion people worldwide have mobile phone subscriptions. If every one of those billions of people upgraded to the newest version of their phone every two years…well, you do the math! It would be a mess. And that's kind of what's happening: electronic waste is piling up faster than it can be recycled.

E-waste is the fastest-growing type of waste on Earth, according to Waste Management World, which cited statistics showing that the amount of electronic waste grew by 60% between 2010 and 2019. As of 2019, only about 17% of that e-waste was being correctly managed and recycled. When e-waste doesn't get recycled in countries like the U.S., it all too often gets dumped on lower-income countries where the environmental impacts hit poor people the hardest.

All of us as consumers and as citizens have a responsibility to recycle our old electronics. It's the right thing to do for the planet and for human health and safety. And there might even be some money in it for you.

2. Electronics recycling can make money

Electronics recycling might not sound glamorous, but it's becoming a big business. Recent data published by ResearchandMarkets.com found that the global market for electronics recycling is expected to reach $110.6 billion by 2030, with a compound annual growth rate (CAGR) of 13.6% from 2022-2030.

Old phones, tablets, and laptops aren't just "junk." They can often be refurbished, reused, resold, or recycled. Many electronic devices contain valuable materials like gold, platinum, and rare earth metals. If companies can get better at separating the high-value stuff from the low-value plastic parts, electronics recycling could become a highly profitable win-win for businesses and the environment.

You don't need to be part of a huge corporation to get in on the electronics recycling "gold rush." Some people have turned electronics recycling into a side hustle. If you have a good eye for details and enjoy tinkering with electronics and taking stuff apart, you might be able to make money by dismantling old computers. Figure out which computer parts or components are in demand online, and then sell the valuable electronic parts for scrap on eBay or other online marketplaces.

3. Companies give you money for electronics recycling

Are you ready to upgrade your phone? Are you tired of using your beat-up old tablet or sluggish old laptop? Whatever you do, don't throw away your electronic devices, and don't assume that you have to wait for a special collection day or take them to a faraway waste management site. You can often get money for recycling your old electronics!

Many big companies like Apple, Amazon, Verizon, Samsung, and T-Mobile will give you store credit for trading in your old phone, tablet, or other devices. Retailers like Best Buy, Target, and Walmart will give you store gift cards if you bring in your old electronics for recycling. And electronics recycling buyback companies like Sellcell will give you cash for your old phones, tablets, gaming consoles, and other devices.

The exact amount of value that you can get for recycling electronics depends on the device's age, condition, and other factors. But you might be surprised at how valuable your old electronics really are. And even if your device is too broken to have a dollar value, many companies will still accept it for safe, eco-friendly recycling.

Bottom line

Electronic waste is piling up fast, but this problem also has a potentially lucrative solution. People need to get into the habit of trading in or recycling their old electronics -- there's money behind those cracked screens! And in this case, doing the right thing for your personal finances is also right for the environment and for people in lower-income parts of the world. Smartphones and other electronic devices have made everyday life more connected, convenient, and efficient. Bringing that same spirit of efficiency to electronics recycling can help us all "go green" -- and get money.