Renewables MMI®: Duke Energy Invests $500 Million in Solar

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Solar PV array

The North Carolina Utilities Commission approved Duke Energy‘s plan announced in September to invest $500 million in 278 megawatts of new utility-scale solar through building 3 new installations and contracting for the output of 5 others.

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Duke said the investment will help it meet its state-imposed requirement to get 6% of its 2015 electricity sales from renewables. The investment will also move Duke toward the mandate’s 2021 requirement for Duke to obtain 12.5% of its electricity from renewables or energy efficiency.

The week’s biggest mover on the weekly Renewables MMI® was the price of Chinese steel plate, which saw a 4.3% increase to CNY 3,160 ($511.78) per metric ton. This comes on the heels of a 7.9% decline the week prior. The price of neodymium rose 0.3% to CNY 346,000 ($56,037) per metric ton after falling 1.4% during the previous week. At CNY 220,000 ($35,630) per metric ton, the price of Chinese cobalt cathodes did not change since the previous week. Following a steady week, prices for silicon closed flat at CNY 15,000 ($2,429) per metric ton.

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Closing at JPY 80,000 ($663.00) per metric ton, Japanese steel plate remained unchanged for the week. Following a steady week, prices for Korean steel plate closed flat at KRW 900,000 ($818.02) per metric ton. The price of Chinese steel plate rose 4.3% to CNY 3,160 ($511.78) per metric ton after falling 7.9% during the previous week. At $816.00 per short ton, the week finished with no movement for US steel plate.

US grain-oriented electrical steel (GOES) saw little price change on Tuesday at $2,688 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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