The 31-year-old World Champion from Canberra placed fourth in the qualification round before stepping it up in the first round of finals jumping her signature triple back somersaults to advance to the medal round in first place.
Peel was one of two female jumpers to perform a triple somersault in the medal round, scoring 89.04 points with her full-tuck-full jump narrowly missing out on victory by the small margin of 0.84 points.
Taking the win was Megan Nick of the USA with 89.88 points, with her American teammate Winter Vinecki in third place with 88.12 points.
"Happy to take silver after a tough week of training", Peel posted after the event.
In the aerial skiing World Cup standings, Peel has increased her lead as number one in the world with 370 points after five competitions. Winter Vinecki is in second place with 263 points Megan Nick in third place with 238 points.
The aerial skiing World Cup tour will now head to Deer Valley, UT, USA, for the next round of competition on the prestigious 2002 Olympic course.