Silver demand for PV manufacturing may have peaked in 2019
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.
Amount of silver needed in solar cells to be more than halved by 2028, Silver Institute says
The US-based industry association finds the amount of silver loading may fall from 130 mg per cell in 2016 to approximately 65 mg by 2028. Alternative and cheaper raw materials, such as copper and aluminum, are not expected to replace silver in commercial cell production, at least in the next decade.
Solar demand is boosting silver prices, says Silver Institute
Two different reports highlight how PV demand is currently improving silver’s industrial offtake. The Silver Institute says that prices have increased 9% since the beginning of this year, while ETF Securities says that mining capital expenditure and investments are declining, and that this could further weigh on silver supply.
