Core Viewpoint - The surge in silver prices is exacerbating the financial struggles of solar panel manufacturers, who are facing intensified competition and ongoing losses. The industry is implementing a dual strategy to cope with rising costs: increasing product prices and accelerating the transition to cheaper materials like copper to replace silver [1][4]. Group 1: Industry Challenges - Solar panel manufacturers are experiencing significant cost pressures due to soaring silver prices, which have tripled over the past year, reaching over $93 per ounce [1][4]. - The use of silver in solar cells now accounts for 29% of the total component cost, a sharp increase from 3.4% in 2023 and 14% last year [1]. - Major solar companies, including Trina Solar, have warned of expected net losses through 2025, indicating that the industry downturn has not yet reached its lowest point despite efforts to curb overcapacity and price wars [4]. Group 2: Price Adjustments and Market Response - In response to rising silver prices, Chinese component manufacturers have raised prices to over 0.8 yuan per watt, reflecting a 1.4% to 3.8% increase from the previous week, resulting in typical 500-watt component prices around 400 yuan ($57) [4]. - The silver market is experiencing a record streak, with prices around $91 per ounce, potentially marking the longest consecutive monthly increase since records began in 1950 [4]. Group 3: Material Substitution Efforts - Manufacturers are actively working to reduce silver paste usage in solar cells to lower costs, with projections indicating an average usage of 8.96 milligrams per watt by 2025, down from 11.2 milligrams in 2024 [5]. - Longi Green Energy has announced plans to begin replacing silver with cheaper metals in their solar cells [5]. - The solar industry accounted for approximately 17% of total silver demand last year, a significant increase from a decade ago, but a slowdown in consumption could threaten the long-term price increase of silver [5][6].

白银价格的飙升，正给试图在残酷行业竞争中结束两年多亏损局面的太阳能电池板制造商，施加额外的 压力。 这些努力目前正在加速。隆基绿能科技股份有限公司（Longi Green Energy Technology Co.）上周宣布， 将很快开始在其电池中用贱金属替代白银，加入了晶科能源（Jinko Solar）、上海爱旭新能源股份有限 公司（Shanghai Aiko Solar Energy Co.）等公司的行列，进行此类转换。 现货白银价格本周一度飙升至每盎司93美元以上的历史高位，延续暴涨局面。根据彭博新能源财经 （BloombergNEF）的数据，这意味着用于太阳能电池的微量白银，现在占一块电池板总成本的29%， 远高于2023年的3.4%和去年的14%。 工程师可以采用多种方法用更便宜的铜替代电池中的部分或全部白银，但对制造商来说，替代步伐过 快、幅度过大可能带来风险。客户通常要求20年或更长的质保期，而增加替代比例会缩短产品寿命的风 险，因为测试新材料的时间较短。 电池板制造商的应对之策是提高售价，并加速推进用铜等更廉价材料替代白银的计划。成本的增加发生 在全行业亏损持续扩大的背景下，该行业在经历前几年 ...