Solar industry devours silver
In photovoltaic technology, the raw material silver, around 55 percent of whose total production is processed in industry anyway, plays an immensely important role. In 2010, the demand for solar energy in the EU has grown strongly, as well as in 2019, with an estimated 96 million ounces of silver consumed in the solar industry last year, two million ounces more than in 2018.
Around 16.7 gigawatts were installed in the EU in 2019. This represents an increase of 104 percent compared to 2018. Germany, Spain, France, the Netherlands and Poland were particularly eager. Poland recorded a quadrupling of the installed megawatt capacity.
The reasons are obvious. Solar energy is usually cheaper than other ways of generating electricity. It is also important to achieve the climate and energy policy targets in the EU. In addition to reducing greenhouse gas emissions by at least 40 percent, this includes increasing energy from renewable sources. This is expected to increase by at least 32 percent by 2030.
But other countries such as China, Japan and the USA are also increasingly relying on energy from the sun. This development should be good for the silver price and thus also for silver companies.
A company that has been successfully producing silver for years is Endeavour Silver with its silver mines in Mexico: https://www.commodity-tv.com/play/endeavour-silver-optimizing-existing-silver-mines-and-looking-for-terronera-financing/. An increase in production is expected in 2020. Discovery Metals is also represented in Mexico: https://www.commodity-tv.com/play/discovery-metals-well-financed-for-development-further-exploration-at-cordero/. The Codero project, one of the largest silver projects in the world, is being developed there. Further silver mines in Mexico and the Coahuila silver-zinc-lead project complete the portfolio of Discovery Metals.
Recent corporate news and press releases from Endeavour Silver (https://www.resource-capital.ch/en/companies/endeavour-silver-corp/) and Discovery Metals (https://www.resource-capital.ch/en/companies/discovery-metals-corp/).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also