The US Energy Information Administration reports April was the eighth consecutive month in which total monthly non-hydropower renewables generation exceeded monthly hydropower generation.
While hydropower again exceeded non-hydro generation in May, the most recent available data, EIA projects that 2014 will be the first year in which annual non-hydro renewables generation will surpass annual hydropower generation.
According to EIA’s Annual Energy Outlook 2014 (AEO2014), the increase in kilowatt-hours generated by renewables will fall second only to natural gas through 2040.
Meanwhile, Germany has broken its own record for percentage of renewable power used, almost a third of the nation’s output for the first half of the year. According to the Fraunhofer institute, Germany produced about 81 TWh, or 31% of the nation’s electricity during the first half of 2014. Solar production is up 28%, wind 19% and biomass 7% over last year.
A 1.8 percent improvement on the weekly Renewables MMI® made Chinese cobalt cathodes the week’s biggest mover, closing at CNY 231,000 ($37,541) per metric ton. Silicon saw a 0.7 percent decline over the past week to CNY 13,900 ($2,259) per metric ton. The price of Chinese steel plate declined 0.3 percent over the past week, settling at CNY 3,590 ($583.42) per metric ton. At CNY 390,000 ($63,380) per metric ton, the week finished with no movement for neodymium.
Following a steady week, prices for Japanese steel plate closed flat at JPY 76,000 ($743.52) per metric ton. At KRW 900,000 ($867.85) per metric ton, the price of Korean steel plate did not change since the previous week. After a 0.3 percent decline, Chinese steel plate closed out the week at CNY 3,590 ($583.42) per metric ton. US steel plate remained essentially flat from the previous week at $871.00 per short ton.
US grain-oriented electrical steel (GOES) saw little movement yesterday, closing out around $2,881 per metric 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 (at) agmetalminer (dot) com.