The Phaserl


Changes in Silver, Part 2: Photovoltaic Demand

by Miguel Perez-Santalla, BullionVault via WealthWire:

The Photovoltaic industry didn’t start to show on charts of silver demand until the year 2000, when it consumed approximately one million ounces.

Those 31 tonnes were barely a blip on the silver consumption chart. In fact, in comparison to the smallest of the large consumers at the time – which was electronics – it was not even a tenth of their consumption.

Few expected the solar cell industry to become an important player in the silver market for years to come. Indeed, it was not until the year 2008 that the industry reached any volumes of importance, consuming nearly 19 million ounces (590 tonnes). That was barely 2.5% of total fabrication demand according to data from New York’s CPM Group.

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