Not Enough Silver to Power the World Even if Solar Power Efficiency Were to Quadruple

Seeking Alpha, 2/9/2017, Zoltan Ban

Key Takeaways:

  • We live in a time where visionaries have become very popular
  • Predictions are hard to resist if you care about the world yet desire to maintain the current standard of living
  • Average solar panel of 1.8 square meters requires about 20 grams of silver
  • A square kilometer (247 acres) requires about 11.1 tons of silver to cover with solar panels
  • At 20% efficiency, it would take a land mass the size of Spain with solar panels to power the world
  • This requires approximately 5.62 million tons of silver
  • However, the world’s current known official silver reserves per Statista is less than 600,000 tons
  • It is estimated that to date, about 45-50 billion ounces or 1.5 million tons of silver were produced throughout history
  • Assuming global demand growth at 1% per year, the solar economy would need an additional 14,000 tons per year not counting 7.000 tons per year needed to replace lost capacity
  • For reference, current silver mining production is 28,000 tons per year
  • For me, the message is to invest in silver now.

Not Enough Silver To Power The World Even If Solar Power Efficiency Were To Quadruple | Seeking Alpha