As a consequence of this, alternatives including thin-film solar power generation become less of a threat, the research firm suggests.
However, it adds that thin-film photovoltaics (TFPV) "is still expected to gain share in the market and has yet to firm up on the electrode materials that it will use going forward".
"As TFPV technologies mature, will silver be a winner or loser?" asks NanoMarkets.
Silver is at the core of the analyst's research, due to its application as the dominant electrode material in the production of crystalline silicon for use in semiconductors.
It is also used in a variety of other forms in solar panel production, including in transparent conducting composites, hybrid materials and in silver inks and pastes.
NanoMarkets covers topics including high-brightness LEDs, organic LEDs, sensors, displays and smart grids within its research remit.
