Renewables MMI®: Germany Pushing Solar, Wind Adoption

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Germany, with the world’s 4th-largest economy, may serve as a global test bed for the feasibility of renewable energy on a large scale.

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The New York Times reported that nearly 30% of Germany’s electric power comes from renewable energy sources,  most of that from solar power, and the percentage is growing. This is not without a downside: Traditional electric utilities are struggling.

Additional large industrial countries also have been stepping away from high-polluting fossil fuels for power generation. Brazil, according to the International Energy Agency, gets more than 80 percent of its electric power from renewables, mostly sugarcane ethanol. And more than 60 percent of Canada’s electricity comes from hydropower. But these are special cases, owing to Canada’s abundant white-water resources and Brazil’s highly advanced sugarcane industry.

Germany, however, gets most of its power from wind and solar. Bloomberg Businessweek explains the German model in more detail.

After falling 9.4%, silicon landed at CNY 12,600 ($2,058) per metric ton and making it the week’s biggest mover on the weekly Renewables MMI®. The past week saw Chinese cobalt cathodes close at CNY 217,000 ($35,436) per metric ton after a 6.1% decline. Neodymium saw a 0.6% decline over the past week to CNY 355,000 ($57,972) per metric ton. Chinese steel plate prices held steady from the previous week at CNY 3,290 ($537.26) per metric ton.

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Closing at JPY 76,000 ($651.52) per metric ton, Japanese steel plate remained unchanged for the week. Prices for Korean steel plate remained constant, closing the week at KRW 900,000 ($841.99) per metric ton. At CNY 3,290 ($537.26) per metric ton, the price of Chinese steel plate did not change since the previous week. US steel plate prices were off slightly at $843.00 per short ton, down from $850.00 a week ago.

US grain-oriented electrical steel (GOES) was unchanged at $2,658 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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