Solar Silver Thrust, Soaring Demand from PV Panels: If Oil Skyrockets As FRN Collapses, Will We Only Be Able To Afford The SUN?!Submitted by Cyril on Wed, 02/27/2013 - 03:20
By Jeff Clark, on the MarketOracle (10/05/2012):
Solar Silver Thrust, Soaring Demand from PV Panels
"As you may know, silver is used in photovoltaic (PV) technology to generate solar power. A typical solar panel uses a fair amount of the metal – roughly two-thirds of an ounce (20 grams). To put that in perspective, a cellphone contains around 200 to 300 milligrams (a milligram weighs about as much as a grain of sand). A laptop contains 750 milligrams to 1.25 grams.
Photovoltaic technology is relatively young, but each year its use is growing rapidly. Just since 2000, the amount of silver consumed by solar-panel makers has risen an average of 50% per year. Demand grew from one million ounces in 2002 to 60 million ounces in 2011. Last year demand from the PV industry represented almost 11% of total industrial demand for the metal (excluding jewelry). According to statistics from CPM Group, demand grew by 11.2 million ounces, the strongest volume growth of all major sources (jewelry and electronics). And this was before the Japanese announcement was made...