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 China’s 10-Year Yield Down to Lowest Since 2002 on Growth Worry READ MORE China’s Gen Z Gives Gold a Boost READ MORE Four Tech Titans Propel Stock Market to New Highs on AI Hopes READ MORE Gold Soars to New Heights as Fed Rate Cut Approaches READ MORE Anticipation Builds for Potential Fed Rate Cuts in 2024 READ MORE Add a Comment Cancel replyYour email address will not be published.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