by Peter Schiff, Schiff Gold:
Silver is a vital component in the solar energy sector. Solar power generation is expected to nearly double by 2025 and that’s bullish news for the silver market, according to a report highlighted in the latest edition of the Silver Institute’s Silver News.
The Silver Institute commissioned a report that examines trends in solar power generation and provides regional perspectives on future demand for solar installations. The report maintains that a combination of global efforts to reduce fossil fuel reliance, legislation to lower carbon emissions, and favorable government tax policies, should result in a continued expansion of solar panel installations over the next decade.
Silver has the lowest electrical resistance of any metal at normal temperatures. According to the report, “Potential substitute metals cannot match silver in terms of energy output per solar panel. Further, due to technical hurdles, non-silver PVs tend to be less reliable and have shorter lifespans, presenting serious issues for their widespread commercial development.”
A recent report from the World Bank forecasts that by 2050, consumption of silver in energy technologies could grow dramatically, reaching a level equivalent to more than 50% of current total silver demand; the largest proportion for any non-battery metal.
The latest edition of Silver News also highlights some other fascinating technological developments utilizing the white metal.