How Silver is Transforming Elon Musk’s Future
From Tesla to SpaceX: The Key Ingredient Behind Musk’s Grand Designs
Elon Musk, the visionary pioneer, is renowned for his groundbreaking concepts that have reimagined entire industries. However, there exists an undisclosed truth about him, shared not only by Musk himself, but also by many CEOs of environmentally conscious companies — a truth that carries immense significance.
Their unspoken necessity: silver.
Rumors have been circulating within the industry, fueling speculation that both Tesla and SpaceX have an underlying and urgent need for silver.
The undeniable reality is that the flourishing green revolution relies heavily on the use of silver. With its extraordinary chemical composition, silver stands as a fundamental element that directly and indirectly shapes the very essence of green technologies.
What many are unaware of is that every step taken towards embracing green technologies and incorporating them into our lives unintentionally deepens our reliance on silver. It’s an interconnected relationship that extends beyond individual actions, profoundly influencing the fabric of our society.
Let us dive into the crucial role that silver plays in propelling the green revolution…
Silver, with its exceptional electrical and thermal conductivity among metals, assumes a vital role in today’s electrical generation.
This precious metal takes center stage, particularly in the realm of green electricity, where solar power stands as one of the fastest-growing sectors in the market.
The allure of solar energy lies in its renewable nature and zero carbon emissions, making it an incredibly eco-friendly energy source.
When it comes to the amount of silver utilized in solar panels, it can vary, but an average estimate hovers around 20 grams, which is equivalent to approximately 0.643 troy ounces or roughly two-thirds of an ounce.
Imagine installing 25 solar panels on a roof, which would consume about 16 ounces of silver. Although this may seem like a modest quantity, it is undeniably noteworthy.
According to the Silver Institute, every Gigawatt of solar power needs 2.8 million oz of silver.
The demand for silver experiences exponential growth, especially when considering the increasing adoption of solar energy.
In certain states, new regulations mandate solar installations on new buildings, further amplifying this demand. It’s a secret that Elon Musk, the visionary entrepreneur, is very aware of.
By any measure, the utilization of solar power in our society is on the verge of tremendous growth. The trajectory is set, and silver remains a key ingredient in propelling this renewable revolution forward.
Prepare for a solar-powered revolution because the electricity generated from solar energy is set to more than triple in the next decade. This surge is driven by heightened environmental consciousness, government policies, and the inherent advantages of solar technology itself.
Not only does solar power cost less, but it can also be rapidly deployed compared to other energy sources.
And it’s not just solar that’s riding this wave of renewable energy growth; wind power is also in the mix. Silver finds its place in the world of windmills, where it is used in brushes for motors and generators in wind turbines.
While copper brushes have been popular, many users are now opting for silver brushes. They may be more expensive, but their long-term performance outshines their counterparts.
The renewable energy sector as a whole is poised for extraordinary expansion. By 2030, renewables are projected to soar to a staggering 4.5 times their current level. This significant shift translates into an ever-increasing demand for silver.
Looking further ahead, by 2050, solar panels and wind turbines are expected to require three times more silver than what is currently used.
But could we reduce or eliminate silver from renewables if its price becomes too high? In most cases, the answer would be no.
So, the next time your home, business, or any place you visit harnesses electricity from solar or wind sources, express gratitude to silver. Its remarkable properties make it an indispensable player in the renewable energy game.
When it comes to electric cars and trucks, silver takes the wheel. These vehicles, including electric vehicles (EVs), battery electric vehicles (BEVs), and plug-in hybrids (PHEVs), rely on silver for their operation.
Compared to traditional internal combustion engines (ICE), electric vehicles consume a larger quantity of silver. The electric engine, battery pack, and battery management system all depend on this precious metal.
While the silver content in a single Tesla or other electric vehicle may appear insignificant, the cumulative demand quickly adds up — and is projected to keep rising.
Estimating Silver Consumption in the Automotive Industry: Only an Upward Trajectory
Whether you own an electric vehicle or simply ride in one, you are contributing to the utilization of green technology, thanks in part to silver’s essential role.
But it doesn’t stop at electric vehicles.
The automotive industry as a whole is undergoing electrification at an accelerating pace. The majority of electrical connections in cars utilize silver-coated contacts, while silver switches control various functions such as engine ignition, electric seats, and window operations.
Silver also finds application in heated seats, window defoggers, and illuminating displays.
The use of silver in various automobile components is widespread, as shown from the devices illustrated here:
As a result, the demand for silver in this sector is set to surge.
Consequently, the automotive industry alone is expected to consume approximately 70 million ounces of silver by 2030, compared to 45 million ounces in 2017.
Why Going Green Is Incomplete Without Silver
With the world’s increasing adoption of green technologies, the presence of silver in our daily lives is on the rise. Silver plays a pivotal role in shaping and empowering these eco-friendly innovations.
As new advancements emerge, the exceptional properties of silver will continue to drive their development and utilization.
Presently, solar energy relies on a mere 120 million ounces of silver, representing only 2% of our solar-powered electricity grid. However, numerous governments worldwide are on the verge of mandating 10% or even 20% of wind and solar energy integration.
Now, let’s envision a scenario where the utilization of silver in solar energy skyrockets only fivefold. In such a future, solar energy would require a staggering half a billion ounces of silver.
This highlights the significant impact and potential growth in the silver demand driven by the expansion of solar energy.
Step into the realm of the green revolution, where silver takes center stage.
The soaring demand for green technologies poses a challenge to the already limited supply of silver. In fact, the situation is more critical than most people realize.
It’s time to seize this opportunity and maximize its potential. Here’s our game plan.
