Renewables MMI®: SolarCity Plans $5 Billion Solar PV Factory in Buffalo

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Solar PV array

Elon Musk’s SolarCity has broken ground in Buffalo, on what is being touted as one of the world’s largest solar-panel manufacturing facilities. SolarCity will invest $5 billion in the project, and New York Gov. Andrew Cuomo says the state will invest $750 million.

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With the ability to make enough solar panels to generate more than 1,000 megawatts of electricity, the factory would be the biggest crystalline silicon photovoltaic solar panel factory in the Western Hemisphere and one of the biggest in the world. It would be three times bigger than any other solar panel factory in the US, and could be in open by early 2016, with full production a year later. It will create 3,000 jobs to the Buffalo area.

Following a 2.6 percent decline to CNY 375,000 ($61,076) per metric ton, neodymium finished as the week’s biggest mover on the weekly Renewables MMI®. At CNY 231,000 ($37,623) per metric ton, the price of Chinese cobalt cathodes did not change since the previous week. Silicon prices held steady from the previous week at CNY 13,900 ($2,264) per metric ton. Prices for Chinese steel plate remained constant, closing the week at CNY 3,480 ($566.79) per metric ton.

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Following a steady week, prices for Japanese steel plate closed flat at JPY 76,000 ($698.84) per metric ton. At KRW 900,000 ($862.28) per metric ton, the price of Korean steel plate did not change since the previous week. Prices for Chinese steel plate remained constant, closing the week at CNY 3,480 ($566.79) per metric ton. US steel plate remained essentially flat from the previous week at $882.00 per short ton.

For the fifth consecutive day, US grain-oriented electrical steel (GOES) held flat at $2,691 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.

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