China is getting close! “China closed in on the U.S. at the top of a renewable-energy ranking by consultants EY after installing record solar-power capacity last year,” reports Businessweek.
“China scored 73.1 out of 100 on the Renewable Energy Country Attractiveness Index in the fourth quarter, up from 71.6 in the third, while the U.S. slipped to 74.4 from 74.7, EY said today in an e-mailed report. The two were followed in the list of 40 countries by Germany, Japan and the U.K.”
“’China has remained a dominant market in the index, reflecting an unprecedented pace of deployment backed by substantial targets and continued high growth in energy demand,’ said Klair White, editor of the report. ‘In the U.S., the shale-gas boom and underlying partisan politics continued to put strain on the renewables sector.’”
“China, the largest energy user, is speeding the development of renewables to curb air pollution. The nation has some of the toughest efficiency standards for buildings and transport, and its support for photovoltaic projects has caused solar-panel costs to tumble. In the U.S., shale investment has reduced the incentive to add clean power as higher gas output cuts prices.”
In metal price news for the renewables sector…
Prices for Chinese cobalt cathodes didn’t move this week. Other metals on the weekly Renewables MMI® followed suit. Prices for silicon remained constant. The price of neodymium did not change since the previous week. Chinese steel plate remained essentially flat from the previous week.
Japanese steel plate prices held steady from the previous week. Korean steel plate traded sideways last week. Chinese steel plate remained unchanged for the week. The week finished with no movement for US steel plate.
US grain-oriented electrical steel (GOES) was unchanged.
The Renewables MMI® collects and weights 8 metal price points used extensively within the renewable energy industry to provide a unique view into renewable energy metal price trends. For more information on the Renewables MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.