Spanish researchers found that semi-transparent silicon PV greenhouses boosted tomato fruit weight by 25% while generating 726.8 kWh over two seasons, outperforming cadmium telluride PV and shaded controls. The PV-Si system balanced sunlight, temperature, and energy, showing strong agrivoltaic potential.

Researchers led by Spain’s Murcian Institute for Agricultural and Environmental Research and Development (IMIDA) have evaluated the impact of different agrivoltaic system designs on tomato crops to determine the level of shading that benefits the plants most.

“The use of four independent, identical greenhouses enables a robust assessment of their respective impacts on microclimate, crop performance, and energy generation,” the team said. “Specifically, the study aimed to evaluate the agronomic and energy performance of two commercially available semi-transparent PV technologies, with distinct light transmission patterns, in comparison with control and shading-net treatments.”

The researchers tested a semi-transparent monocrystalline silicon (PV-Si) greenhouse and a cadmium telluride thin-film (PV-TF) greenhouse against a control greenhouse and one with a shading net.

The study took place in Murcia, Spain, over two tomato-growing seasons: a 120-day winter-spring season from December 2023 to April 2024, and a 98-day spring-summer season from April to July 2024. Murcia’s semi-arid Mediterranean climate features average summer and winter temperatures of 30 C and 12 C, respectively. In both seasons, the team used polyethylene greenhouses measuring 3.9 m long × 2 m wide × 3.1 m high.

Materials under evaluation were installed on the roof and south façade of each greenhouse. The control greenhouse used only the standard polyethylene film, while the shading-control greenhouse added a shading net to selected zones. One solar greenhouse featured monofacial silicon PV modules with 50% transparency, and the other used cadmium telluride (CdTe) modules, also at 50% transparency. Each solar greenhouse had 18 modules—half on the roof, half on the façade—with nominal powers of 59 W for PV-Si and 40 W for PV-TF.

The microclimatic conditions inside each pilot greenhouse were monitored at two-minute intervals. Measurements included air temperature, relative humidity, solar irradiance, and photosynthetically active radiation,” the team explained. “Additionally, soil temperature and humidity were measured at five-minute intervals at depths ranging from 10 to 60 cm in 10 cm increments.”

The testing showed that the PV-Si technology generated an average daily energy output of 3.92 kWh in winter-spring and 4.07 kWh in spring-summer. PV-TF, meanwhile, produced 2.58 kWh and 2.79 kWh, respectively. Total energy generation across both seasons reached 726.8 kWh for PV-Si and 488.4 kWh for PV-TF.

Daily light integral (DLI), representing total photosynthetically active light received by plants each day, averaged 18.1 mol m⁻² in winter-spring and 25.4 mol m⁻² in spring-summer in the Si greenhouse. In the TF greenhouse, DLI averaged 10.8 mol m⁻² and 17 mol m⁻², respectively.

“During the winter-spring cycle, only the control and PV-Si greenhouses maintained DLI values above the minimum threshold required for optimal crop development,” the researchers reported. “Despite a similar number of fruits, the PV-Si greenhouse produced fruits with a mean weight 25% higher than the control, attributed to more favorable nighttime air temperatures and higher soil moisture.”

In winter-spring, the Si greenhouse yielded 21 fruits with an average weight of 74 g, while the TF greenhouse produced 18 fruits averaging 50 g. During spring-summer, the Si greenhouse produced 30 fruits averaging 93 g, compared with 23 fruits at 79 g in the TF greenhouse.

“Overall, the PV-Si system effectively balanced solar radiation management, thermal regulation, and energy production, demonstrating its potential as a suitable technology for agrivoltaic applications,” the team concluded.

The research findings were presented in “Comparative evaluation of semi-transparent monocrystalline silicon and cadmium telluride photovoltaics for tomato cultivation in Mediterranean agrivoltaic greenhouses,” published in Smart Agricultural Technology. Researchers from Spain’s IMIDA, Miguel Hernández University of Elche, and Italy’s University of Bari Aldo Moro have contributed to the study.

The German manufacturer said its new back-contact solar panel has a power conversion efficiency of up to 23.52%.

From pv magazine Germany

German module manufacturer Bauer Solar is expanding its product portfolio with a new back-contact panel.

Initially, it will launch a full-black glass-glass version with an output of 480 W. It is built on 108 bifacial half-cells and measure 1,800 mm × 1,134 mm × 30 mm, with a listed weight of 24.8 kg. The module power conversion efficiency is 23.52%.

The company said that both the front and rear glass panes are 2 mm thick and feature anti-reflective coatings. The frame is made of anodized black aluminum alloy. The modules are rated for operating temperatures from –40 C to 85 C and a maximum system voltage of 1,500 V. They can reportedly withstand static loads up to 5,400 Pa and carry a hail resistance rating of HW3. Certifications include fire protection class A.

Bauer Solar is offering a 30-year product and performance warranty on the new modules. The linear performance warranty guarantees a minimum output of 88.85 % of the original capacity after 30 years. The company also plans to increase the output of its back-contact modules to 500 W later this year with the “Pure” and “Performance” variants.

Alongside back-contact modules, Bauer Solar will continue to focus on its TOPCon technology. This portfolio will be expanded this summer with the “Pure” and “Black” variants, which will reach an output of 465 W. While the company did not disclose pricing, it emphasized that the modules are aimed at the residential rooftop solar market as “an economical solution with an optimal price-performance ratio.”

A German research team has developed CuInSe₂ micro-concentrator solar cells using laser-assisted metal-organic chemical vapor deposition to grow indium islands directly on molybdenum-coated glass, forming absorber arrays without masks or patterning. The not-yet-optimized micro-modules achieved up to 0.65% efficiency under one sun, with gains of up to 250% under concentrated illumination.

A research team in Germany has developed a copper, indium, selenium (CuInSe₂) micro-concentrator solar device composed of vertically grown absorber islands on a molybdenum (Mo) films.

The scientists used laser-assisted metal-organic chemical vapor deposition (LA-MOCVD) to grow indium (In) islands in a bottom-up approach, instead of depositing a continuous thin film and subsequently patterning it. “The primary novelty of our work is the use of a LA-MOCVD method for the bottom-up growth of indium precursor islands,” corresponding author Jan Berger told pv magazine. “This approach proved to be a fast and reliable technique for simultaneous local growth, importantly offering the possibility to add gallium and copper locally using the same method.”

“The most unexpected finding was that the indium precursor islands formed distinct cluster structures that remained pinned in place, refusing to coalesce into a single large island – even after annealing above the melting temperature of indium,” he added. “Furthermore, it was surprising to see that the structural features of these precursor islands remained clearly visible even after the selenization process.”

Device fabrication begins with glass substrates coated with Mo, which are then processed by LA-MOCVD. In this step, a laser array locally heats the substrate. It decomposes the precursor gas only at defined spots, forming a 7 × 7 array of indium islands without the need for masks or patterning. A thin copper layer is subsequently deposited, and the stack is selenized to form CuInSe₂ absorber islands.

Afterward, the samples are etched to remove unwanted material, coated with photoresist for electrical isolation, and patterned with a laser to form openings. The solar cell is then completed by depositing a cadmium sulfide (CdS) buffer layer, followed by intrinsic zinc oxide (i-ZnO) and aluminum-doped zinc oxide (AZO) window layers. Finally, each array of 49 micro-cells is contacted and measured as a single module, with a device structure of glass/Mo/CIS absorber/ cadmium sulfide (CdS)/i-ZnO/AZO.

Overall, the team produced nine micro-modules and tested four of them. Initial measurements were conducted under one sun, followed by increasing intensities up to 17 suns to simulate concentrator conditions. These not-yet-optimized arrays achieved a conversion efficiency of up to 0.65% under one sun, with efficiency rising under higher illumination—gains of around 60% at lower concentrations and up to 250% at 17 suns.

“Functional devices were successfully produced, but notable key challenges were identified, particularly related to the intensity distribution of diffractive optical element (DOE), the initial morphology of indium islands, and process repeatability. Addressing these challenges in terms of material quality and process control is essential,” the team explained. “Once resolved, the LA-MOCVD method holds significant promise as a rapid and resource-efficient production technique for next-generation micro-concentrator photovoltaics.”

The new cell concept was presented in “CuInSe2-based micro-concentrator solar cells fabricated from In islands grown by laser-assisted MO-CVD,” published in Solar Energy Materials and Solar Cells. Scientists from Germany's University of Duisburg-Essen, the Leibniz Institute for Crystal Growth, the Federal Institute for Materials Research and Testing, Brandenburg University of Technology Cottbus-Senftenberg, and the engineering company Bestec have participated in the study.

Japanese researchers developed a molybdenum-based spin-flip emitter that efficiently harvests triplet excitons from singlet-fission tetracene dimers, producing strong near-infrared emission. This approach could boost solar cell efficiency and enable new quantum technologies by converting otherwise “dark” excitons into usable light.

A research team at Kyushu University in Japan has reported a breakthrough that could steer photovoltaic technology past long‑standing efficiency barriers by harnessing a quantum process known as singlet fission (SF).

Singlet exciton fission is an effect seen in certain materials whereby a single photon can generate two electron-hole pairs as it is absorbed into a solar cell rather than the usual one. The effect has been observed by scientists as far back as the 1970s and though it has become an important area of research for some of the world’s leading institutes over the past decade; translating the effect into a viable solar cell has proved complex.

Singlet fission solar cells can produce two electrons from one photon, making the cell more efficient. This happens through a quantum mechanical process where one singlet exciton (an electron-hole pair) is split into two triplet excitons. By pairing SF with a specially designed spin‑flip molybdenum‑based complex, the scientists demonstrated energy conversion and harvesting in solution with an effective quantum yield of around 130%.

The research findings are available in the study “Exploring Spin-State Selective Harvesting Pathways from Singlet Fission Dimers to a Near-Infrared-Emissive Spin-Flip Emitter,” published in the Journal of the Chemical American Society.

The Dutch research institute has presented what it describes as the world’s first perovskite-based roof tile, achieving up to 13.8% efficiency on standalone modules and 12.4% when installed on a curved surface. The flexible modules were produced using TNO’s experimental roll-to-roll platform,

The Netherlands Organization for Applied Scientific Research (TNO) has unveiled today a building-integrated photovoltaic (BIPV) tile based on perovskite solar cell technology.

The new product is billed as the world's first perovskite solar tile.

“This demonstrator is supported by the Province of North Brabant through the project ‘Solar manufacturing industry to Brabant, Solliance 2.0’. Additional funding was received from the European Union’s Horizon Europe programme for the Luminosity project,” TNO said in a statement. “The work was also partly funded by the National Growth Fund programme SolarNL.”

The Dutch research institute partnered with Netherlands-based BIPV specialist Asat BV in deploying 10 cm x 10 cm perovskite solar modules built on flexible foil onto a curved composite roof tile. Testing indicates that bending the modules to fit the curved surface has minimal impact on their performance.

Standalone modules reached energy conversion efficiencies of up to 13.8%, while the modules retained an efficiency of 12.4% after installation on the curved roof tile.

The perovksite modules were encapsulated with an experimental roll-to-roll manufacturing platform developed by TNO itself. Roll-to-roll manufacturing – similar to the process used in newspaper printing – enables continuous production of solar cells on long rolls of flexible material. The technique is widely seen as a potential pathway to lower production costs and high-volume manufacturing for emerging thin-film technologies such as perovskites.

More technical details about the solar tile were not disclosed. TNO said it will be commercialized by its spinoff Perovion Technologies, which was launched last month. 

TNO's recent research on perovskite solar cells, includes developing roll-to-roll and spatial atomic layer deposition (SALD) processes for the deposition of functional materials, solar cell layers, and flexible foils.

In July, Solarge, a manufacturer of lightweight silicon PV modules based in the Netherlands, and TNO unveiled a 32 cm x 34 cm lightweight prototype perovskite solar panel.

A month earlier, Japan’s Sekisui Solar Film, part of Sekisui Chemical, the Brabant Development Agency (BOM), which serves the Dutch province of Noord-Brabant, and TNO signed a letter of intent in Osaka, Japan to explore collaboration related to flexible perovskite solar PV module technologies.

As pv magazine has reported, Sekisui Solar Film is developing technology for lightweight, flexible perovskite solar module manufacturing using an advanced roll-to-roll process. It is working on a 100 MW plant in Japan for large-scale production, is undertaking field demonstrations, and signed a perovskite solar-related memorandum of understanding with Slovakia.

 

Geronimo Power started commercial operations at its 117-MW Dodson Creek Solar Project in Highland County, Ohio. “Together with our community members and project partners, we’re proud to expand our commitment to Ohio,” said Andy Cukurs, COO for Geronimo Power. “With Dodson Creek, our total Ohio operating portfolio has reached 675 MW — that equates to…

The post Ohio solar project built with modules manufactured in state appeared first on Solar Power World.

A years-in-the-making solar panel assembly outfit in College Station, Texas, is now officially in operation but with a twist — all solar panels coming off the lines will be used in projects developed by the parent company. US Modules‘ first production line can produce 400 MW of utility-scale solar panels annually. A second line should…

The post US Modules opens solar panel assembly plant in east-central Texas appeared first on Solar Power World.

Qcells is launching a new division to work with homebuilders integrating clean energy solutions. The Qcells New Homes solar platform offers U.S. home builders a turnkey, vertically integrated package of everything needed to get a residential solar and storage system online. Solar panels will be manufactured at Qcells’ facility in Georgia, and Qcells New Homes…

The post New Qcells division to serve residential homebuilders with solar solutions appeared first on Solar Power World.

Analysis: Some in the US solar industry are positioning tariffs as a silver bullet for manufacturers, but it may not be as straightforward as that.

Toyo Solar shipped 4.5GW of cells in FY2025, surpassing its full-year target, while module shipments reached 249MW.

Indian solar manufacturer Premier Energies has commissioned a 5.6GW solar module manufacturing facility in Seetharampur, Telangana.

The scope of supply chain diligence for PV projects in the US seeking tax credits has expanded, requiring greater vigilance in procurement, writes Intertek CEA's Paul Wormser.

PV Tech Premium explores the challenges of solar panel recycling, the evolving policy landscape and opportunities for recyclers in the US.

Australia's DCCEEW has launched an approach-to-market seeking an administrator to deliver the National Solar Panel Recycling Pilot.

More than 70% of global solar manufacturing facilities exhibited “major” or “critical” defects in 2025, according to a new report from Intertek CEA.

Spain installed 1.14 GW of solar capacity for self-consumption in 2025, lifting cumulative capacity to 9.3 GW, as residential and commercial installations declined while industrial and off-grid segments showed greater resilience, according to data from the Spanish Photovoltaic Union.

From pv magazine Spain

Solar self-consumption capacity in Spain reached a cumulative 9.3 GW in 2025, according to data from the Spanish Photovoltaic Union (UNEF).

Spain added 1,139 MW of new self-consumption capacity during the year, representing a 3.7% slowdown compared with 2024. UNEF said the deceleration signals a phase of market stabilization following several years of rapid growth.

The residential segment accounted for 229 MW across 36,330 new installations, a year-on-year decline of 17%. UNEF attributed the contraction to the phase-out of tax incentives linked to energy-efficient home renovations and lower compensation for surplus electricity exported to the grid under deregulated market contracts.

UNEF said falling surplus compensation prices are reducing the attractiveness of oversized systems designed primarily for grid injection. As a result, demand is shifting toward installations optimized for instantaneous self-consumption. The association is calling for revisions to the simplified regulated compensation mechanism to enable broader settlement of surplus energy and improve economic signals for small-scale systems.

The commercial segment installed 176 MW in 2025, down 15% from the previous year. Collective self-consumption remains limited despite its potential to optimize shared generation and demand. Industry representatives said pending regulatory updates are needed to enable aggregated management models, dynamic energy allocation, and an expansion of eligible self-consumption areas.

Industrial self-consumption installations totaled 679 MW, marking a slight increase compared with 2024. UNEF said growth in this segment is being driven by larger medium-voltage systems aimed at reducing electricity costs and partially covering electrified thermal demand. Project viability increasingly depends on tariff structures with a higher variable component and more streamlined permitting for medium-sized installations.

Off-grid installations reached 55 MW in 2025, reflecting growing uptake of hybrid solar-plus-storage systems in rural areas and locations without grid access. Battery integration in grid-connected installations also continued to rise, improving controllability of generation and supporting system flexibility.

UNEF said Spain will need to deploy an average of around 2 GW of self-consumption capacity per year to meet the 19 GW target set out in the country’s National Integrated Energy and Climate Plan. Achieving that level will require regulatory stability, administrative simplification, and more effective integration of distributed energy storage.

54% of respondents cited “energy availability and redundancy” as the single greatest obstacle to successful data center development between now and 2030.

From ESS News

aw firm Foley & Lardner LLP released today its 2026 Data Center Development Report, focusing on the growth and challenges in the data center boom that aims to sustain the growth in AI and LLM usage.

A major focus was on energy, with 54% of respondents citing “energy availability and redundancy” as the single greatest obstacle to successful data center development between now and 2030.

In terms of the right energy mix for data centers, 55% of respondents agreeing that the ideal energy mix to meet the growing power demand of data centers is largely renewables (41%), followed by natural gas (17%), nuclear (16%), and BESS (14%).

Nearly half (48%) of industry participants named advances in energy efficiency (which often includes storage optimization) as the greatest opportunity for development through the end of the decade, and nearly three in four respondents (74%) said advanced energy storage systems like batteries, hybrid solutions, and microgrids are the best way to ensure energy resilience.

Only 14% of developers are actually pursuing modular and small modular nuclear reactors as a viable energy opportunity.

Intriguingly, 63% anticipate a “strategic correction” in the market by 2030, driven by the intense competition for power, with one unnamed banking executive in the report saying, “Once power runs out in 2027 or 2028, that’s where we think deal flow will start to slow down.”

105 U.S.-based respondents were qualified to participate in the survey, including those who had direct experience in data center development, energy procurement, technology delivery, or operations within the past 24 months.

Energy analyst firm Wood Mackenzie identified data centers as one of the five trends to look for in 2026 for global energy storage, and within the past week, a battery storage project decided to give up a grid-connection to a data center and re-tool the batteries, earning revenue without being connected.

What they said:

Daniel Farris, partner and co-lead of Foley’s data center and digital infrastructure team: “There is a Gold Rush mentality right now around securing power. That’s a big part of why people feel there’s a bubble,” said “There’s going to a period in the next two to three years where power at necessary levels is going to be really hard to come by.”

Rachel Conrad, senior counsel and co-lead of Foley’s data center and digital infrastructure team: “Over the next five to 10 years, power providers will need to either grow capacity or increase efficiency to meet the demand fueled by data centers.”

Brazil curtailed about one-fifth of its solar and wind generation in 2025, wasting an estimated BRL 6.5 billion ($1.23 billion), as grid constraints and demand mismatches pushed the power system close to operational safety limits on 16 days, according to a report from Volt Robotics.

From pv magazine Brazil

Brazil failed to use roughly 20% of the solar and wind electricity it generated in 2025, resulting in an estimated loss of BRL 6.5 billion, according to Volt Robotics’ Annual Curtailment Report.

Volt Robotics said the scale of curtailment reflects an unprecedented period of renewable oversupply combined with operational constraints in Brazil’s national electricity system.

Average generation cuts reached 4,021 MW over the year, equivalent to the monthly output of a large hydroelectric plant. On at least 16 days in 2025, system operation approached the lower technical safety limit, a sharp increase from 2024, when only one comparable event was recorded.

Volt Robotics said the 2025 events were driven by excess electricity supply rather than scarcity, marking a structural shift in system risk dynamics.

Curtailment intensified between August and October, when historically high levels of generation coincided with transmission constraints and weaker demand. The report attributes the peak losses to a combination of operational limitations, grid congestion, and insufficient flexibility to absorb surplus power.

Sunday mornings emerged as the most frequent stress point for the grid. Volt Robotics said reduced economic activity during weekends lowers electricity demand, while solar output peaks and is often reinforced by strong wind generation. This recurring mismatch leads to network overloads, forced generation cuts, and system operation near the lower safety threshold.

The report also highlights the risk of system instability caused by excess renewable generation. During the 16 critical days, Brazil’s National System Operator classified conditions as severe and implemented emergency measures, supported by the National Electric Energy Agency, including extraordinary generation curtailments.

Volt Robotics warned that without structural adjustments, surplus clean energy itself can become a source of operational risk.

The economic impact extends beyond immediate revenue losses. Frequent curtailment increases perceived investment risk, raises financing costs, and weakens Brazil’s appeal for new renewable energy projects, the report said. Both regulated and free-market projects were affected, with exposure to contractual penalties and the Settlement Price of Differences.

Regionally, Minas Gerais, Ceará, and Rio Grande do Norte recorded the highest levels of curtailed energy, forming what Volt Robotics described as Brazil’s “curtailment triangle.” Southern states experienced significantly lower losses.

Volt Robotics said the situation reflects a structural mismatch between rapid renewable capacity expansion, rising distributed generation, transmission bottlenecks, and tariff structures that do not adequately signal when electricity consumption is most valuable.

The report recommends the introduction of more dynamic time-of-use tariffs, stronger demand-side participation, and regulatory reforms to reduce curtailment and maintain the stability of Brazil’s electricity system.

French researchers have developed a high-resolution computational framework to model microclimate effects of large floating solar PV systems, enabling accurate predictions of heat transfer, ambient temperatures, and water evaporation based on panel configuration and wind conditions. The model can inform thermal performance, environmental impacts, and optimize designs for utility-scale floating PV, as well as ground-mounted and agrivoltaic installations.

French researchers have developed a framework to model microclimate effects of large-sized floating PV systems.

The new model can be used to determine wind-dependent convective heat transfer coefficients (CHTC), ambient temperatures, and to estimate evaporation patterns in partially covered bodies of water based on a variety tilt angles, module heights, and pitch distances.

“The main novelty of this work lies in the numerical methodology we developed, specifically an upscaling method to quantify panel-atmosphere interactions at the module scale then model the micrometeorology at the power plant scale with a relatively fine resolution of about 4 meters,” Baptiste Amiot, corresponding author of the research told pv magazine, adding that the resolution is significantly higher than others in this field.

“Applying this methodology enables us to map the thermal performance across utility-scale installations and to provide insights into local environmental effects, such as evaporative losses,” he said.

The precursor model is geometrically adaptable: tt can handle various tilt angles, mounting heights, and inter-row spacings, according to Amiot. “It is particularly well-suited for large-scale installations exposed to sufficiently windy conditions,” Amiot added.

The researchers used a computational fluid dynamics (CFD) precursor model, a microclimate CFD model supporting the PV parameterization, and an experimental survey. A wind-tunnel setup typical of a land-based application was used to confirm accuracy of altitude-based wind profiles.

In addition, a geometrical layout of a commercial floating PV (FPV) installation was used for the atmosphere boundary layer parameters. The wind direction effects were assessed using the microclimate CFD model that reproduced the localized conditions of the commercial FPV array.

“The atmospheric component is fundamentally similar to regional climate models (RCMs) but deploying it within a CFD framework offers advantages in terms of surface element parameterization and the spatial discretization we can achieve,” said Amiot.

Some of the findings included temperature gradients range between 1.3 C/km and 5.8 C/km; headwinds and tailwinds relative to the front surface of the PV modules generate the greatest turbulence levels. Furthermore, the team was able investigate how turbulent flows influence water-saving gains based on PV coverage of the water surface.

Assessing the results, the researchers noted that the precursor method “readily determines” heat transfer coefficient correlations as a function of wind speed and direction. “This is essential to obtain the thermal U-values that govern panel cooling,” added Amiot.

The model can be extended to model large ground-mounted systems and agrivoltaics, including dynamic configurations where panels adjust orientation throughout the day, according to Amiot. It is suitable for inland and nearshore FPV, but not offshore FPV.

The work is detailed in “Boundary-layer parameterization for assessing temperature and evaporation in floating photovoltaics at the utility-scale,” published in Renewable Energy. Research participants include Ecole nationale des ponts et chaussees, Electricité de France RD, and Université Claude Bernard.

The researchers are currently focused on developing CFD models to predict both the energy output and environmental trade-offs of dual-use photovoltaics systems and FPV evaporation research at finer spatial scales, coupled with in-situ measurements. It is also working on an agrivoltaics CFD-plant model to predict crop response below PV canopies.

After hitting an all-time high of $121.65/oz on Jan. 29, silver prices have tumbled to $79.44/oz, with analysts warning of a potential drop toward $50/oz.

After reaching an all-time high of $$121.65 per ounce (oz) on Jan. 29, silver prices have fallen sharply in recent days, dropping to $79.44/oz this morning.

The downturn had been anticipated by two analysts interviewed by pv magazine on Jan. 27, who warned that the steep rally seen in previous weeks could reverse abruptly in the days ahead.

One of the two analysts, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said the price could stabilize around $50/oz, although he did not provide a timeframe for when this new trend might materialize.

“Reversion toward $50 appears as a normal path for the commodity known as the ‘devil's metal' due to its volatility,” he told pv magazine.

Rhona O’Connell, head of market analysis for EMEA and Asia at StoneX, said on Jan. 27 that investors might soon rethink their rush into silver. She explained that speculative buying had pushed the metal into risky territory, making prices vulnerable to a sharp correction. O’Connell also said fears of potential U.S. tariffs fueled the recent rally, swelling COMEX inventories as metal flowed into the U.S. Further gains are unlikely, she added, dismissing even $100/oz as unsustainable and warning of a potentially severe price reversal.

Silver prices surged by approximately 130% in the past six months and around 243% over the past year. The average silver price was $28.27/oz in 2024, $23.38/oz in 2023, and $21.80/oz in 2022.