Silver Demand From Solar Far Outpaces Silver Supply

World Silver Survey monthly report noted that Silver demand from Solar rose 64% from 118 mil oz in 2022 to 194 mil oz in 2023. Total silver production over the same period was constant at 830 mil oz.

Total industrial demand of 654 mil oz is mostly comprised of electronics and solar. Both of which continue to grow parabolically.

There is a serious disconnect between Green energy demand and the mining industry. The politicians work to push their Green New Deal without any thought of the mining industry.

It’s getting harder and harder every day to open a mine everywhere in the world. Politicians seek to protect their constituents against the “bad” mining industry which is seen as an environmental liability.

There is not enough silver (or copper) production in the world to come even close to fulfilling the politicians plan to power the economy by Green energy. Something has to give, and in the end it will probably be the silver price rising to compensate for the increase in demand.