China controls 80%+ of the US Solar supply chain market

What does that mean for Silver?

Bank of America is doing a workup of China’s markets now in a series called “China Matters”. They are doing it almost a year after GoldFix and Bai Xiaojun did a deep dive analysis in Exclusive: China Dominates The Solar Silver Supply-Chain. In that Silver-focused report Bai and GoldFix dissected the whole supply chain of Solar for readers. It is must read if you wish to understand the importance of Silver in our future both monetarily, and in energy provision.

Attached is BOA’s China Matters #2 which focuses on China’s Solar Supply Chain dominance, describing the industry and the equities they recommend to play it. Silver is barely mentioned except as a cost input, one they hope will drop soon based on their recommendations. But we can add some important color.

Contents:

1. Report Excerpt

2. GoldFix Comment

3. How Much Silver?

4. More Bai and GoldFix Analysis

5. BOA

Here are the bits on Silver:

Equipment (Bullish): opportunities from tech transition

We expect HJT to be the next capex driver of solar cell after ‘24, driven by the improving mass-production conversion efficiency and lower material costs through the reduction of silver/ITO consumption and thinner wafer. And perovskite technology may bring about another round of technological revolution in the long term. We have a Buy rating on HJT cell equipment maker Suzhou Maxwell, as the rapid cell capacity addition can boost equipment demand.