Gold Sinks $200, Silver -14% from China''s Christmas Chaos
But while new PV installations worldwide have continued to grow to new records, 2025 has seen the solar energy sector''s total silver demand start falling, according to specialist
Soaring silver prices have begun to impact the global solar power industry, particularly the photovoltaic sector. Chinese manufacturers of solar photovoltaic (PV) cells or panels plan to hike prices during the current quarter or cut production.
According to one study from the University of Kent, a typical solar panel can contain as much as 20 grams of silver. As the world adopts solar photovoltaics, silver could see dramatic demand coming from this form of renewable energy.
Silver is the primary raw material for this. Over the past few years, the shift to TOPCon cells has increased the demand for silver pace sharply. The production cost of standard solar cells using silicon wafers has increased by at least 0.06 yuan (₹0.77) per watt to 0.33 yuan (₹4.25) over the past three months.
Spot silver prices have gained one-and-half-times in the past year, zooming to nearly $74 an ounce currently. Silver March futures are quoting at $73.620. In India, spot silver ended the week at ₹2,34,550 a kg. On MCX, March futures ruled at ₹2,41,967 a kg.
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