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 NYCB Sheds Mortgage Servicing Arm in $1.4B Deal with Mr. Cooper READ MORE Japan's Largest Ever Yen Intervention in April: 5.92 Trillion Yen Spent READ MORE U.S. Economy Defies Expectations with 2.8% Growth in Q2 READ MORE Gold Demand Dips as Wedding Season Begins, Diamond and Gemstone Sales Rise READ MORE Fed Officials Debate Future of Goods Price Declines Amid Inflation Fight READ MORE Add a Comment Cancel replyYour email address will not be published.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