solar's scorching demand for silver set to cool - silver necklace set
* Demand will reach 83 ounces in 2016
The GFMS * 500,000 solar panel installed last yearIEA * GRAPHIC-
Industrial silver demand 2016.
Rs/2 gYWOVv * graphics-
Solar Demand for silver.
Harvey London, January, December 9 (Reuters)-
As technology advances, the demand for silver for solar cells will peak this year, and the amount of metal required will be significantly reduced.
Solar energy accounts for about 8% of total silver consumption, and this year is a rare bright spot as demand for jewellery, industrial use and physical investment has fallen by 9%.
Silver demand for photovoltaic cells is expected to reach a record 83.
GFMS analysts at Thomson Reuters said gold was 3 million ounces in 2016, up from 1 million ounces in 2002.
In recent years, the solar panel industry has seen huge growth, with more than half a million solar panels installed every day last year.
According to the International Energy Agency, solar and wind energy generated globally is expected to double by 2020 (IEA).
Falling costs help spur growth in solar energy.
The cost of the new utility is between 2010 and 2015
Twice the size of solar photovoltaic
According to the International Energy Agency, it is in its thirties.
"We expect photovoltaic equipment to maintain steady growth in the next few years --about 3-
5% per year-
But this does not necessarily coincide with the growth of silver demand.
"We expect silver demand in the photovoltaic industry to drop by 4.
5% per year.
Demand for silver in the photovoltaic industry began to grow in 2011, but as prices soared to nearly $50 an ounce, the industry was lifted out of its current predicament.
Film technology to film
A thin film system with less silver is used.
Typical photovoltaic cells that produce 4 watts use 0.
17g of silver in 2014, from 0. 3 grams in 2010.
"They added more street bars (
Conductive metal bars)
Added more lines, but reduced the amount of silver per cell, "said Secretary John smino.
Secretary General of the Global Solar Council.
"You 've also seen some investments in replacing silver with copper," he said . ".
SolarWorld AG, a German solar panel maker, said the company has been reducing silver usage in solar cells for years and will continue to do so.
SolarWorld Vice-"reduce silver consumption and reduce dependence on silver spot market availability and price development
Milan president nitzczek said.
Spot prices rose nearly a quarter this year.