New Solar Record Set as Renewables Generate One Quarter of California’s Energy

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California’s industrial-sized solar power producers pumped more than 4,500 megawatts into the grid around noon on Monday.

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According to the California Independent System Operator (CaISO), the agency that runs the grid serving most of the state, utility-scale solar power plants set a new record of 4,566 megawatts of output at 12:03 p.m. on May 19, Rewire reported.

Around 575 megawatts of that noontime peak came from solar thermal plants, which use the sun’s energy to generate steam which in turn turns turbines. The remainder came from photovoltaic panels, made from silicon, which convert sunlight directly into electricity.

The week’s biggest mover on the weekly Renewables MMI® was US steel plate, which saw a 3.0 percent increase to $848.00 per short ton. Korean steel plate traded sideways last week, hovering around KRW 900,000 ($880.72) per metric ton. Closing at JPY 76,000 ($748.79) per metric ton, Japanese steel plate remained unchanged for the week.

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Chinese renewables prices were mixed for the week. Chinese steel plate prices were off slightly at CNY 3,790 ($607.71) per metric ton, down from CNY 3,850 ($617.21) a week ago. At CNY 204,000 ($32,710) per metric ton, the week finished with no movement for Chinese cobalt cathodes. Prices for silicon remained constant, closing the week at CNY 14,250 ($2,285) per metric ton. Neodymium remained essentially flat from the previous week at CNY 415,000 ($66,543) per metric ton.

For the fifth day in a row, US grain-oriented electrical steel (GOES) remained essentially flat at $2,921 per short ton.

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@agmetalminer.com.

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