How Rising Prices On Silver Affecting Solar Market Wholesale

Increasing prices of silver is a headache for solar industry. According to the surveys, it has been declared that the solar panel makers use around 11% of the worlds silver supply. One reason is that it is a major element that helps to conduct electricity in solar panels. Market studies say that silver price is soaring at high-speed. It has touched 74% to $35.30 a troy ounce on average from $20.24 last years cost.Market scenario depicts that increased prices on silver have greatly influenced solar market where prices of solar cells have dropped up to 27%. The prices will become lesser if each solar panel will not contain around 20gms of silver. Such Babydoll Lingerie things have completely affected solar panel production in companies such as Solarworld AG (SWV) and LDK Solar Co. which are well-known to provide solar power at competitive rate.The chief executive of the Canadian Solar Inc. (CSIQ) Shawn Qu stated that Silver plate is used as the front-side contact material in solar cells. Increased silver prices have enhanced a Wholesale Mac Accessories challenge to provide solar cell at cost-effective price. In June, the solar panel prices were estimated to reduce from $1.80 to $1.49, but the market didnt Wholesale Watches support favourable situation even thought after increasing production and reducing incentives.As a result of rising silver prices, many companies have planned to reduce silver consumption. Qu stated that Canadian Solar uses silver paste to make circuit used on the front of its solar cell. Therefore, increasing prices of silver have added increment from 25% to 4% in the cost of solar panels. Because of soaring prices, the Companys margins are getting affected to 17% plus as compared to its cost of production.In April 2011, silver prices touched about $48.44 an ounce. But now the prices have dropped down like anything. But in future, if silver prices again start shooting up like earlier, the companies will have to add from 13% to 15% of extra cost in the producing a single solar panel. According to the Washington-based trade group Silver Institute, the supply of silver has increased from 922.2 million to 1.06 billion.In recent times, the solar company is trying to reduce its silver consumption. Some of the companies are trying to use thinner wiring in solar cells. These thin-film solar panels will give tough completion to those companies that manufacture high-film solar panels. To replace silver, a spokesman in the First Solar Inc. (FSLR) said that the company has manufactured a solar cell with cadmium-telluride rather than the polysilicon used in typical photovoltaic cells.Efforts have been taken to reduce increasing silver prices. One reason is that the customers have to bear at the end.