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The Silver Demand Push from Solar Panels

In: Business and Management

Submitted By ganesh10
Words 938
Pages 4
Solar Panels – Creating Silver Bulls!!
The Fukushima disaster in Japan led the authorities to think of alternative ways to reduce dependence on nuclear power which meets about 30% of Japan’s power requirements. In June 12 Japan’s Industry Minister Yukio Edano set a premium price for solar electricity that’s about triple what industrial users now pay for conventional power. This premium is expected to push Japanese utility companies to solar power. Photovoltaic technology (PV) is used for generating solar power and a typical solar panel uses about 20 grams of silver. It may be interesting to note that relatively speaking a laptop uses about 750mg and a cell phone about 250mg of silver. It is estimated that silver used in solar panels has arisen @50% per annum since 2000. The demand was 60 million ounces in 2011 increasing from about 1 million ounce in 2002 (one ounce = 28 grams) constituting about 11% of the total industrial demand (excluding jewelry). Germany is the largest user of solar panels accounting for 27% of the installations. But there have been subsidy cuts which has reduced the solar panel capacity to 7.5 gigawatts but made up by increased usage by China, Italy, France UK, Japan & US. Global analysts had predicted a fall in silver demand for solar panels in 2012 due to this and predicted n oversupply due to excess production in China. However the Japanese announcement seems to have changed the landscape as it means a great thrust for the solar panel industry as the utility companies will pay 42 yen (53 cents) a kilowatt-hour for 20 years to solar power producers, almost twice the rate in Germany. This many in the know of things say is very attractive. Germany plans to offer €0.14 to €0.19, or 17 to 24.6 cents, per kilowatt-hour, depending on size. Italy’s rate is €0.13 to €0.24. According to Bloomberg New Energy Forecast this may provide at least USD

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