Industry
CRU: silver will be reduced by half by 2028.
According to a report by the CRU consultancy on behalf of the world silver association, the silver needed to produce most of the positive and back conductive silver pulp of most solar cells is almost halved, and the average silver demand for each battery is about 65 milligrams from 130 milligrams in 2016 to 2028.

CRU: silver will be reduced by half by 2028.

CRU: silver will be reduced by half by 2028.

The report's author explained that the amount of silver used in solar cell manufacturing has decreased from 400 milligrams to 130 milligrams from 400 milligrams between 2007 and 2016. The report also predicts that by 2030, the battery output will increase from 4.7W to 6W, and the use of silver per watt will be reduced by 10.5 mg.

However, CRU analysts say that the unmatched conductivity of silver means there is a "physical limit" for the possibility of further reducing the amount of silver in battery production, because the loss of efficiency exceeds the benefits of cheap raw materials such as copper or aluminum.

In the next ten years, non silver photovoltaic technology has not been expected to gain a significant market share because of their short life, and the global PV market is developing towards more compact and efficient solar panels.

CRU predicts that by 2030, module efficiency will probably rise to around 25%, which will lead to a 24% reduction in the number of panels needed to generate the same number of power.

"These two factors, saving and improving efficiency, may reduce the amount of silver load, thus greatly increasing the growth rate of solar energy devices, in order to prevent the decline in the demand for silver. In the long run, however, the current growth of the industry will not be realized. " The report points out.

Therefore, CRU experts predict that the demand for silver in the photovoltaic industry will reach about 70 million to 80 million ounces per year, until the mid - 1920s to 5000-5500 million ounces. By 2030, demand is expected to recover about 66 million ounces per year.

In a separate report issued in May, the World Bank predicted that silver prices would drop sharply to $13.42 / ounce by 2030. However, commodity prices are not expected to change significantly until 2021. Analysts expect the price in 2021 to be 16.45 US dollars / ounce, and silver prices have fallen considerably since then. It is expected to reach US $15.04 / ounce in 2025.

According to the report issued by the world silver association in April, the demand for silver industry increased from 5 billion 768 million ounces in 2016 to 5 billion 990 million ounces last year, an increase of about 4%. This sudden increase was mainly due to the record growth of the photovoltaic industry, promoting the demand for silver as a silver pulp component of solar cells, from 79 million 300 thousand ounces in 2016 to 94 million 100 thousand ounces in 2017, an increase of about 19% over the same period.