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Silver, in paste form, provides a conductive layer on the front and the back of silicon solar cells. But the industry is now beginning to make more efficient versions of cells that use a lot more of the metal, which is set to boost already-increasing consumption.
Solar is a 'great example of how inelastic demand for silver is,' said Gregor Gregersen.
Silver Bullion is a financial services company in Singapore that offers segregated ownership of physical commodities like real gold, silver, platinum and other metals to investors.
For Gregor Gregersen, it was the global financial crisis in 2008 that prompted a pivot in his career from finance to precious metals in Singapore.
The growing demand for silver in the solar power industry will likely put a significant squeeze on supply in the coming years, and the current price of silver does not reflect the likely shortages.