SILVER OUTLOOK TO Q2 2025 DEFICITS PERSIST

Photovoltaic silver demand
According to the Silver Institute, photovoltaics alone are projected to account for 19% of global silver demand in 2024, equivalent to 232 million ounces. This represents almost a 20% increase from 2023 and a substantial 96% surge from 2022 levels. [pdf][FAQS about Photovoltaic silver demand]
