Olivine Ore -[Mine]-> Olivine
Olivine -[Furnace]-> Silicon
Silicon -[Compressor]-> Silicon Wafers x4
3x Silicon Wafers Horizontally -[Crafting Bench]-> Solar Cell
2x Silicon Wafers + 1x Cable (WCW) -[Crafting Bench]-> Semiconductor
Solar Cells would be used in the construction of Solar Panels and also be used in the recipes for some later tier machines, Semiconductors would be a material requires for Advanced Circuits and later tier machines.
Silicon has a lot of applications in the modern world especially related to electronics. I feel like the game needs more ores to mine, more things to dig for, and IC would feel a lot more fitting with the modern industrial world with semiconductors and silicon wafers.
Edit: Supposedly RP2 is getting Silicon as well, just use the Oredictionary (don't void this suggestion solely for that reason)