silver price

Michael DiRienzo, executive director of The Silver Institute, tells pv magazine that average silver prices will hover around $23 per ounce this year, without any anticipated supply disruptions for the solar industry.

The US-based Silver Institute’s “World Silver Survey 2022” report shows that the price of the metal will fall slightly this year, despite the global economic impact of the war in Ukraine.

A Silver Institute study says demand for the precious metal for solar manufacturing accounted for 11% of global consumption last year but reduced solar generation capacity up to 2023 will eat into that figure and ‘thrifting’ technological advances will kick in after that point.

The unfolding effects of the Covid-19 crisis, and fears of a possible second wave, have split analysts trying to guess how the unsubsidized renewables market will emerge as slumping demand continued to distort power markets. pv magazine rounds up the week’s coronavirus developments.

Trade body the Silver Institute says silver demand in the solar industry will dip slightly this year but remain near to previous record highs. Silver paste consumption for PV has been reduced due to advances in metallization techniques.

A recently published report on commodity markets published by the World Bank indicates that the recent decline in commodity prices for silver is likely to continue over the next 10-20 years. The looming trade dispute between the U.S. and China is impeding investor trust, as future outlook remains murky.

With silver use per cell falling as demand grows, two different consultancies have given different accounts of future demand for silver in PV applications.