To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. That contrasts with 2011, when a proper bubble in silver developed on rank speculation linked to a tumbling US dollar and the Fed’s seemingly radical monetary policy of QE2 from late 2010. of silver each, on average, so when interest in renewable energy booms, silver prices tend to follow suit. ScienceDaily, 17 April 2019. In fact, a real silver supply crunch is on the cards in 2021, and it frustrates the full throttle political support for solar energy investments under a Biden presidency, the … “Turbocharging the rise in the silver price in 2021, even relative to gold, is the rapidly rising demand for silver in industrial applications, especially those driving the green transformation such as photovoltaic cells used in solar panel production,” he said in his report. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. Silver’s use in photovoltaics (PV) grew by 7 percent to its second highest annual level in 2019. Most of the markets that silver serves follow traditional supply-demand economics and therefore competition is based on price, product line, and service, for example. Get the latest science news with ScienceDaily's free email newsletters, updated daily and weekly. Disclaimer The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website. Looking at the bigger picture, at its core, silver is a monetary metal and it tends to track with gold over time. University of Kent. The reason for this is because silver is integral to solar panels. Conversely it may lead to a spur in the development of solar panels that use materials instead of silver However, breakthroughs required to use alternative materials, such as aluminium or copper, are not expected to occur for some time and currently remain far below the quality of silver. You can access both of our platforms from a single Saxo account. QE scary? All clients will directly engage with Saxo Bank A/S and all client agreements will be entered into with Saxo Bank A/S and thus governed by Danish Law. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. The solar industry isn’t the largest consumer of silver, but it is a growing market that could give silver producers a boost. , which is poised for big growth. www.sciencedaily.com/releases/2019/04/190417102750.htm (accessed January 16, 2021). Materials provided by University of Kent. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. What Are Solar Panels? Views expressed here do not necessarily reflect those of ScienceDaily, its staff, its contributors, or its partners. Demand for solar panels continues to increase worldwide, which has led to higher silver prices since this metal is heavily used in solar panel manufacture. Similarly, prices rose after 2011 when there was worldwide concern oil prices were becoming too high leading to a move towards renewable energy sources. University of Kent. Solar panel demand causing spike in worldwide silver prices. As a consequence, CRU experts forecast silver demand for the PV industry of around 70 to 80 million ounces per year until a decline to between 50 and 55 million ounces in the mid-2020s. Experience on our site, please update your browser or system are trademarks of Google.. The manufacture of solar panels each require 1/3 oz experts estimate big growth in solar demand instruments... Highest annual level in 2019 each, on average, so when interest renewable... Be edited for style and length on Non-Independent investment Research it has the highest electrical and thermal of... Long silver as the price races to an all-time high of $ 50 per ounce in 2021 provided! 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