Silver's Role in Future Energy?

Most people understand that green energy applications are gaining market share around the world and that trend is expected to grow moving forward. Proponents of silver are starting to think in terms of its use in these future energy applications perhaps making it a key to the future. In that regard, they think of silver in the future somewhat like we have thought of oil in the past. Below are some excerpts from this article on FxStreet.com - The Role of Silver in America's Drive Towards Energy Independence.  

"Solar panels, solar water heaters, more powerful batteries, wind farms, wave machines, and electric vehicles, have all altered the landscape of energy supply forever.

In fact, in 2019, U.S. annual energy consumption from renewable sources exceeded coal consumption for the first time since before 1885 by .2 quadrillion thermal unit, according to the EIA. 

This trend is expected to continue as new policies and systems are put in place to support renewables. The Federal Investment Tax Credit (ITC)  provides a tax benefit for solar power use, the EIC which provides comprehensive data on U.S. energy markets, and others. 

These policies are spurring states into action. California is to use 100 percent renewables by 2045. New York state aims to use 70 percent renewable energy by 2030. Seattle plans to achieve 30 percent EV adoption by 2030 and have a 100 percent electric municipal fleet by 2030."

Silver is the New Oil

A major component in the most sophisticated of these technologies producing renewable energy is silver.

Silver is the best conductor of electricity. The beauty of silver is that technology has so far failed to replace it with an alternative. No known material matches silver for its energy output and conductivity per dollar.

. . . . 

But We Don't Have Enough

Zoltan Ban, economist, anthropologist, and contributor to Seeking Alpha, estimated that even if the efficiency of silver quadrupled, the world will still not have enough silver to supply the world’s energy needs. 

Ban’s conservative estimate states that we would need 5.62 million tons of silver. 

The world's current known official silver reserves that can be assumed to be recoverable from mines is estimated to be less than 600,000 tons.

Silver is the Future     . . . . . 

The four minute video below summarizes the main points made in the article quoted above. It's produced by a seller of silver as an investment product, but does explain the reasons why it is possible silver could be key to the future in energy. It also notes that if industrial demand for silver keeps rising, we won't enough supply to meet that demand. It's something to keep an eye on in the years ahead. 

Sprott Money report on Silver's Green Energy Future

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