Industrial demand effect on silver price.

Solar power and silver.jpg
Solar power

Silver is a storehouse of hard and valuable assets.

Silver is among the most traded precious metals in the world like gold, where people consider it a stable currency during periods of inflation.

But what distinguishes silver as opposed to gold?

Is that it is an important industrial and precious metal for emerging industries.

Photovoltaic solar panels are among solar panels types that rely heavily on silver where silver paste applied to silicon plates conducts electrons coming from the sun's rays that hit the plate.
The demand for these panels is expected to increase by 20% over the next five years at least, as silver will become more popular.

On the other side, Australia's demand for electric vehicles will increase by 50% of the total market by the end of the current decade.

In addition, silver is corrosion-resistant and is used in batteries
Where every combustion engine car contains approximately an estimated 22 grams of silver. For the hybrid type, we may find up to 25 grams, while the battery electric vehicles need between 25 - 50 grams of silver.

In general, there are more than 55 million ounces of silver used in vehicles each year.
With the growing electric car industry in Australia, Silver will become a vital component of our battery-powered future.

Sort:  

Silver has many uses. I use it as a temporary store of wealth.

Silver is the future fortune

While my Nissan EV Car has about 55grams of silver, it uses a set of Lithium ion batteries rather than Silver Zinc batteries. While the silver Zinc batteries are more efficient and energy dense they are also toxic to humans in the event of an auto collision. They're great for remote and space applications like the Mars Rover and satellites,

It's great to use it on these applications

In making of some materials and items, silver is more valuable than gold

Posted Using LeoFinance Beta

Yes