When LONGi Green Energy, the world's largest solar module maker, told investors on January 5, 2026 that it would begin mass-producing base-metal solar cells in the second quarter, it put a number on a pressure the whole industry feels. Solar is the largest single application within silver's industrial demand, and as the metal ran to a record above $121 an ounce in January, rising silver costs pushed manufacturers to accelerate efforts to reduce the metal per cell.