We will estimate the demand for silver from the PV industry under the simplifying assumption that solar panels for incremental solar PV capacity additions are manufactured in the same year in which they are installed. Taking into account that roughly 2.8 million ounces of silver are required to generate 1 GW of solar power, the demand for silver translates into roughly 106 million ounces and 151 million ounces in 2014 and 2018 respectively.
Source: Markets
Author
Harry Joiner
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