Solar Energy Industry to use an impressive $1.5 Billion worth of Silver Metal

21 November of 2010 by

Solar Panels has suddenly become one of the biggest industrial consumers of the Silver Metal in 2010.The massive growth of the solar industryhas surprised analysts and forecasters alike and caused surprisingdemand in the most unlikely of places.With 15-17 GW of Solar PanelProduction estimated in 2010,the silver consumption will be around 65million ounces or 1800 tons.With production of around 21000 tons,theSolar Industry is now responsible for around 9% of the global Silverproduction.Note Despite Silver touching new record highs,it has notaffected the solar prices much which have continued to decline by almost 50% in the last couple of years.

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