China Drives Silver to New Heights with Booming Solar Sector Silver demand has been significantly driven by the growth in solar energy installations, particularly in photovoltaic (PV) cells. Last year, the demand for silver in PV cells reached a new high of 190 million ounces, up from 100 million in 2020, now accounting for about 30% of industrial silver demand. This increase is largely attributed to the rapid expansion of PV manufacturing and installation in China, which constitutes approximately 85% of the global manufacturing capacity. In 2023, China’s new solar installations nearly matched the total global installations of the previous year. Looking ahead, it’s projected that solar silver demand could surpass 200 million ounces in 2024. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts HSBC: Commodity Markets Are in a ‘Super Squeeze’ READ MORE Gold at Two-Week Low, Copper Below $9,000/t READ MORE German and Italian Gold Imports Linked to Amazon's Illicit Mining Boom READ MORE China's Iron Ore Imports Defy Steel Industry Slowdown READ MORE ECB and BoC Poised to Cut Interest Rates This Week READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment