Silver use per panel is falling, yet booming solar and EV growth are pushing total demand higher. Platinum is finding new life in the hydrogen economy.
Silver and platinum, once seen mainly as luxury or investment assets, are now essential for building solar panels, electric vehicles, and hydrogen systems. As the world installs record solar capacity and scales up green technologies, these metals are moving from “nice to have” to “must have.”
Let’s find out why these are the next big metals.
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Silver and Platinum Industrial Demand Analysis
Silver In Solar: Using Less, Consuming More
Solar manufacturers are learning to use less silver in each cell, but total demand keeps rising fast. Modern panels use only about 0.08–0.095 grams of silver per watt, equal to 2,570–3,050 ounces per megawatt.
Yet with solar installations hitting new records each year, that efficiency gain cannot offset the surge in production. The World Silver Survey 2025 shows industrial silver demand reaching its highest level ever, with solar accounting for a growing share.
Every new solar farm adds thousands of ounces of silver to global consumption, keeping demand strong even as producers try to cut usage.
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Platinum In Fuel Cells And Hydrogen
Platinum is also getting a major upgrade in the clean energy story. Once dominated by car exhaust catalysts, its new demand comes from fuel cells, electrolysers, and hydrogen projects. These technologies use platinum as a catalyst to convert electricity into clean fuel.
Industry data show hydrogen-related use could reach double-digit shares of total platinum demand by 2030.
With supply from South Africa and Russia already tight, this shift could spark fresh investment and innovation in recycling and recovery.
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What To Watch Next
Three numbers matter most:
- How many grams of silver each solar watt requires
- How many megawatts of solar and hydrogen capacity come online each yeaR
- How much platinum and silver recycling expands to meet the load.
Together, they reveal whether cleaner energy will keep these metals scarce or make them sustainable staples of the global economy.
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Conclusion
The future of solar and electric transport depends on more than innovation-it depends on metals that make it possible. Silver and platinum are no longer just precious; they are the building blocks of the clean energy revolution.
