Deutsche Bank: Solar to Be Cheaper Than Current Electricity Rates in 47 States

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Solar PV array

After years of struggling against cheap natural gas prices and variable subsidies, solar electricity is on track to be as cheap or cheaper than average electricity-bill prices in 47 U.S. states — in 2016, according to a Deutsche Bank report published last week. That’s assuming the US maintains its 30% tax credit on system costs, which is set to expire that same year.

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Even if the tax credit drops to 10%, solar will soon reach price parity with conventional electricity in well over half the nation: 36 states, a Bloomberg News analysis said. Prices will continue to drop as crystalline silicon photovoltaic panel technology improves and financing becomes more affordable, according to the report.

The week’s biggest mover on the weekly Renewables MMI® was US steel plate, which saw a 1.7% decline to $850.00 per short ton. At KRW 900,000 ($841.99) per metric ton, the price of Korean steel plate did not change since the previous week. Japanese steel plate prices held steady from the previous week at JPY 76,000 ($698.05) per metric ton.

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Chinese renewables prices were flat for the week. Closing at CNY 231,000 ($37,611) per metric ton, Chinese cobalt cathodes remained unchanged for the week. At CNY 13,900 ($2,263) per metric ton, the week finished with no movement for silicon. Neodymium traded sideways last week, hovering around CNY 357,000 ($58,127) per metric ton. At CNY 3,310 ($538.93) per metric ton, the week finished with no movement for Chinese steel plate.

US grain-oriented electrical steel (GOES) saw little movement on Tuesday at $2,620 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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