During 2014’s second quarter, silicon photovoltaic (PV) installations in the US went over the gigawatt mark for the third consecutive quarter, according to the Solar Energy Industries Association (SEIA). A gigawatt is equivalent to the amount of power needed for around 750,000 homes.
While commercial solar power is still in its infancy in the US (the Institute for Energy Research says solar makes up just 0.2% of the net energy produced in the nation), homes and businesses with solar panels are no longer considered an oddity. The SEIA says more than a half-million homes and businesses now have solar installations, and during the first half of 2014, 53% of all new electric capacity was from solar power, CBS News reported
Solar energy costs are also dropping.
After falling 1.3%, neodymium landed at CNY 370,000 ($60,243) per metric ton and making it the week’s biggest mover on the weekly Renewables MMI®. Chinese cobalt cathodes traded sideways last week, hovering around CNY 231,000 ($37,611) per metric ton. Silicon prices held steady from the previous week at CNY 13,900 ($2,263) per metric ton. At CNY 3,480 ($566.61) per metric ton, the price of Chinese steel plate did not change since the previous week.
Japanese steel plate remained essentially flat from the previous week at JPY 76,000 ($698.05) per metric ton. Following a steady week, prices for Korean steel plate closed flat at KRW 900,000 ($841.99) per metric ton. Closing at CNY 3,480 ($566.61) per metric ton, Chinese steel plate remained unchanged for the week. US steel plate remained essentially flat from the previous week at $869.00 per short ton.
US grain-oriented electrical steel (GOES) held steady around $2,978 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.