Silver's Solar Demand 'Down 40% by 2024'
Wednesday, July 18, 2018 at 01:21AM
Silver Prices
PV silver thrifting set to continue despite weak price...
 
SILVER DEMAND from the solar energy industry is set to drop by as much as 40% worldwide by the mid-2020s according to a new report,writes Atsuko Whitehouse at BullionVault.
 
While the outlook for China, India and US solar installation is mixed, this forecast for photovoltaic silver demand comes even as total global solar energy capacity is predicted to more than triple from 500GW today to nearly 1,600GW by 2030.
 
But the new report from CRU Consulting, a division of commodity analysts CRU International Limited, says technological improvement – known as 'thrifting' – will further reduce the quantity of silver needed to produce a set amount of electricity.
 
From an average 130 milligrams per PV cell in 2016, CRU expects thrifting will cut that to approximately 65mg by 2028.
 
"The main driver for this thrifting is the price of silver," CRU says in its report, published for the Washington-based mining and users' association The Silver Institute.

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This looks to be a bit of a strtch to me but silver and gold are certainly suffering at the moment.

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