EV And Solar Panels Cause Spike In Silver Increased demand in silver for industrial usage has made silver grow tremendously. The upcoming wave influx of EVs should also translate to a spike in the price of silver. Alot of projects that use solar panels have been using silver for their materials aswell.
Solar power generation is expected to double by 2025 to about 1,100 gigawatts from just over 600GW currently.
The industry – which barely existed until comparatively recently – will consume 888 million ounces of silver over the 2020s, or about 81 million ounces of silver per year, according to metals consultancy CRU.
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