The role of Industrial Silver has been significant, and that importance will likely continue over the next decade. If anyone thinks that silver is declining, there are tons of factors that are keeping demand for it high. Industrial Silver is going to be necessary for a Green Economy.
Industrial silver is a metal that has a range of uses and is in demand for various applications. We hear about gold, and newer useful metals like platinum, which sometimes causes silver to be left out of the discussion. Silver is considered a valuable asset by some, but its value as a store of value is subjective and can vary among individuals. Some may value gold higher while others may value silver higher. Silver has been used for centuries and anything that has been used that long has stood the test of time. While other metals may be seeing their time as more attractive or useful, silver still stands above the rest as something that has been and will continue to be of use.
Whether it is used in Solar Panels, Computers, Mobile Phones, or Lighting Systems, Industrial Silver is necessary to make some of the most used products in the world.
Silver use is really seeing a lot of growth in a Green Economy as it has found a home in solar panels. The solar panel market is a $17 billion industry in 2022 and has grown an average of 21% per year from 2017 to 2022. The growth of the solar panel market may have an impact on silver prices, but it is not a guaranteed relationship and other factors such as supply and demand, economic conditions, and production levels can also influence silver prices.
Silver has a range of uses and applications, but its future utility and demand can be impacted by a variety of factors, including technological advancements, changes in consumer demand, and economic conditions. We can find silver being used in medical supplies as well as computers, which makes it a valuable component for a wide range of industries. Especially as a Green Economy continues, we will address how that will impact silver demand as a whole, as well as its potential effect on mining. As currencies of many countries are seeing high volatility, we will also figure out how silver plays that role as a store of value.
Silver is continuing to see its use in some of the most ubiquitous equipment on the market. Below we will discuss some of the most popular uses of silver in equipment.
Solar Panels
Even as the Green Economy grows, silver is still a very useful metal. Silver’s biggest use in a Green Economy may be in solar panels. Each solar panel requires silver to help it be more conductive. The silver is turned into a silver paste which is printed on photovoltaic cells. These cells absorb sunlight and are used to transmit the current where it is needed through the panels. The use of silver for these cells is continuing to grow as solar panel demand continues to increase. The reflection of solar energy using silver is another way that silver is being used. This reflected energy is captured and converted to energy. Silver also finds itself useful in control rods in nuclear reactors that slow down the fission process.
Medical Equipment
Silver is used in the medical field due to its antibacterial properties. It has been used to bandage wounds, as well as in surgical equipment. The rise of MRSA has increased demand for sterile silver equipment. Colloidal silver is also used to treat burn victims and regenerate damaged tissue.
RFID Tags
RFID (Radio-Frequency Identification) Tags are being used more frequently to replace bar codes. They are valuable and useful for tracking and data analytics, which are both growing and emerging fields of business. If you look closely, you will notice silver strands on the tags. This is because the RFID Tags require 10.9 milligrams of silver on each tag.
Circuit Board Contacts
Because of silver’s abilities in both thermal and electrical, it is able to be used in circuit boards. It is used on printed circuit boards or PCBs.
Speaker Wires
Silver may be used in high-purity conductors, including speaker wires, due to its conductivity properties, but it is not a commonly used material in this application. Copper is more commonly used due to its lower cost and greater availability. Speaker wires have been used for decades and show no signs of slowing. Even as the world moves toward wireless products, wired speakers show much more resilience and sound quality than their wireless counterparts.
Superconductors
Because of their higher electricity transmission, silver can be used to speed up superconductors. Most metals used in superconductors actually slow down the conductivity, however, silver has special properties that actually speed up the process and make it work much faster and much more effectively.
Radio Frequency (RF) Conductors
Coaxial cables which are silver plated are used in RF conductors in order to function correctly at different radio frequencies.
Silver As a Store of Value
Silver has been used as a store of value for centuries and is considered a valuable asset. During periods of economic instability or volatility in currency markets, some individuals may seek alternative stores of value such as precious metals. Silver is often seen as a more affordable alternative to gold as a store of value. It is possible that an increase in demand for silver could lead to an increase in its price. However, it is important to note that silver is not a rare metal and its production can increase through mining and recycling.
Will a Green Economy Reduce Silver Mining?
The impact of the Green Economy on silver mining is complex and dependent on various factors, including regulations, ethical considerations, and changes in demand. The relationship between the growth of the Green Economy and the supply and demand for silver is not straightforward and can be influenced by many variables.
Summary
Silver is a metal with a range of uses, including its conductivity properties and antibacterial properties. It is used in many different major appliances and medical devices. Its range as a great conductor as well of its sanitary properties makes it very versatile as a useful metal. It can and will be used in the future in an array of ways. It has been used for centuries and is still finding new uses with emerging Green Technologies like solar panels. We likely will not see a decline in silver as it continues to be useful.
Silver has been used as a store of value for centuries, with civilizations like the ancient Greeks and Romans using silver coins as a representation of wealth. Some individuals may prefer to hold physical assets, such as silver, as a store of value, even in a digital economy with the presence of digital currency. Silver has a storied history and is valued by those who wish to invest in precious metals as an asset or store of value.
As the Green Economy continues to grow, demand for silver will likely remain high. Even if silver mining finds itself in the crosshairs of ethical and moral dilemmas, the demand for the metal still remains strong. We may see a decline in mining over the next decades, but that would only cause the supply of silver to decrease, which should lead to an increase in price. There are many factors at play in an ever-changing economy, but the fact that silver has been used and will continue to be used keeps it a very strong metal to invest in.
Solar panels are a growing market for silver, as they are used to make the panels more conductive. The silver is turned into a silver paste that is printed on photovoltaic cells, which absorb sunlight and transmit the current. The use of silver in solar panels is likely to increase as demand for solar panels continues to grow. Additionally, silver is also used to reflect solar energy and in control rods in nuclear reactors.
