It won't dry out like old paint, the solvent isn't that volatile. (Technically, you're only supposed to do that with latex paint anyway - oil-based paints, you don't want the VOCs getting into the atmosphere any more than necessary, so you just take the whole thing to your local hazmat collection.)
The solvent stays fine over the winter when I'm not riding (or cleaning) often. Maybe it gets a little bit gummier than it comes out of the bottle fresh, but not enough that I notice a difference in cleaning power. It's best to put a cover on the can though, more to keep bugs and mice out of it than anything. Bonus: the longer it sits between cleanings, the more of the fine dust and grime settles out. 
If you can't do that, I think everyplace at least has one annual household hazmat collection day. Some places will take household hazmats at the landfill all year round. It might not hurt to check an auto parts store? I think it's federal law that every place that sells oil or lead-acid batteries has to take used oil and battery cores in for recycling - so it's possible there are state laws that would make it easier to recycle solvents, too. Nothing like that around where I live, though, unfortunately.
Last edited by OakLeaf; 03-28-2011 at 05:20 PM.
Speed comes from what you put behind you. - Judi Ketteler