Solar Support

Sometimes bears and bulls both need the bright side of things.

The European Photovoltaic Industry Association and Greenpeace report that solar energy could generate 2.5 percent of the world's electricity by 2025. This is on the lower and more realistic side of estimation, but I have heard claims of 10%+ of global power by 2025 being provided by solar energy. This is solely dependent on the needed improvement in solar cell efficiency. As we gradually expend more time and effort, kilowatt hour (kW-h) price will decrease and solar will become more attractive and practical with or without mass government subsidies.

In 2009 the world used close to 20 million ounces for solar cells (which was close to a 100% increase from 2008), in 2010 well over 60 million ounces of silver were used for solar cells.

Currently it is estimated that between 0.3% and 0.5% of the world's power is from photovoltaics. At the current rate of usage if we hoped to have 3-5% of the world's power coming from the sun by 2015 (with hopes of growing this eventually to 10%), it would eventually require hundreds of millions ounces of silver per year. Solar cells must become much more efficient per kW-h (to increase overall percentage of global power provided) and use considerably less silver in the construction of pv cells before this green dream is even possible for solar. More thin film cadmium telluride photovoltaics will be required than thick film crystalline silicon cells unless new methods are developed to decrease the overall silver usage. The use of crystalline silicon cells is still expected to see strong growth going forward, cadmium telluride will simply gain small percentages of market share.



Growing demand for energy will not cease in the near future, with any positive, flat or even slightly negative population growth. As less developed nations become more modernized and technologically advanced, more energy will be needed to power the global grid.

The solar boom will certainly instill interest in silver. As I look out on the horizon, back at home, I see great opportunity in a seemingly inopportune world.