Solar Power Industry Demand Shrinks in Face of High Silver Prices

Reuters reported that high silver prices have prompted the solar energy industry to scale back silver usage.

As quoted in the market report:

As a result, silver consumption by the industry plunged to 40 million ounces (1,244 tonnes) in 2012 after touching a record of more than 60 million ounces in 2011, following years of rapid expansion, according to metals consultancy Thomson Reuters GFMS.

To view the whole Reuters report, click here.