Environmental Science and Pollution Research

, Volume 26, Issue 9, pp 8525–8532 | Cite as

Silver prices and solar energy production

  • Iraklis Apergis
  • Nicholas ApergisEmail author
Research Article


The goal of this paper is to identify, for the first time, the role of solar production in driving silver prices. The empirical analysis makes use of the ARDL model and the combined cointegration. The results, spanning the period 1990–2016, document that stronger solar installed capacities, as well as higher gross electricity production from solar sources, lead to higher silver prices. The findings could be of great importance to silver suppliers and to energy policymakers and regulators, as well as to solar panel manufacturers.


Silver prices Solar energy capacity ARDL and combined cointegration estimates 

JEL classifications

Q02 Q21 C33 



The authors express their deep gratitude to both reviewers of this journal for many helpful comments and suggestions that enhanced the merit of this work. Special thanks also go to the Editor for giving them the opportunity to revise their work.


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Copyright information

© Springer-Verlag GmbH Germany, part of Springer Nature 2019

Authors and Affiliations

  1. 1.University of KentCanterburyEngland
  2. 2.University of PiraeusPiraeusGreece
  3. 3.University of DerbyDerbyEngland

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