Silver prices have soared to a record above US$93 an ounce, tripling in just a year and squeezing solar panel makers already struggling with losses. The metal now accounts for nearly 29% of panel costs, up from 3.4% in 2023.
Silver Surge Pushing Solar Panels to Increase
Manufacturers are raising prices and accelerating substitution with cheaper copper, though risks remain for long‑term warranties. Chinese module makers hiked prices this week, while Trina Solar and Jinko Solar warned of continued net losses in 2025.
Analysts say silver demand from the solar sector could fall 17% this year, threatening the rally, though strong investment interest may keep prices elevated.
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