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Science/Tech See other Science/Tech Articles Title: Solar will become the globe's cheapest source of electricity by 2030 Solar will become the globe's cheapest source of electricity by 2030, according to the Bloomberg report. Specifically, we're talking about utility-scale solar projects -- think giant arrays of panels, not the rooftop variety. Already since 2009, the cost of a typical solar project has fallen 59%. And as our Byron King reminded us earlier this month, buyers will snap up 50 million solar panels this year -- up from 20 million in 2010. "At that rate," Byron teases out the implications today, "solar industry experts predict that the solar industry alone will consume 100 million ounces of silver this year." Yep, silver. "Quality photovoltaic units require significant amounts of silver," Byron explains. Crystalline silicon PV units, which make up about 85% of the solar panel market, each use about 0.7 ounces of silver. More is ultimately used in the fabrication of silver paste, used in 90% of solar panels. "But if 0.7 ounces doesn't sound like much, it's still about 100 times as much as your cellphones uses. And wait until you see how it adds up." "If the solar industry uses up 100 million ounces of silver this year, that's about 10% of global silver production," says Byron. "As recently as 2008, solar consumed only 19 million ounces a year. That's 526% growth in seven years. And it's only just beginning. "After all, it takes at least 80 TONS (equal to 2.56 MILLION ounces!) of silver to generate a gigawatt of electricity from solar, and industry analysts expect the world to add another 40-50 gigawatts of solar power production in 2015. And solar demand only appears to be increasing each year, not slowing down. "Meanwhile, supply isn't holding up. In 2013, the last year we have numbers for, global silver supply fell short of global demand by 133.3 million ounces. "A major reason for this is that China went from being a net exporter of about 100 million ounces of silver to a net importer of about 100 million ounces over the past few years. And the reason China did that is because every year since 2003, they have doubled their production of solar panels." This morning, silver fetches $15.74 an ounce -- almost as low as it's been anytime in the last five years. Just sayin'... Poster Comment: Good case for owning silver, in any form. Post Comment Private Reply Ignore Thread Top • Page Up • Full Thread • Page Down • Bottom/Latest Begin Trace Mode for Comment # 2.
#2. To: BTP Holdings (#0)
"As recently as 2008, solar consumed only 19 million ounces a year. That's 526% growth in seven years. Whoever this Byron King guy is, he needs a refresher course in math. 19 million ounces -> 100 million ounces is 426% growth, not 526%. Makes me doubt the accuracy of the rest of the article.
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