Originally posted by Paralytic
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Will Toyota’s new battery design solve the looming shortage of vital metals for renewables? - Energy Post
We all know the important part played by lithium in battery manufacture. But there is a longer list of metals – including copper, cobalt and neodymium – that must ramp up supply for the continued rapid growth of EVs, solar, wind and other renewables technologies. EVs alone will increase the consumption of copper nine-fold by 2027. Cobalt prices already doubled in 2017. Neodymium use will rise by 700% in the next few decades to satisfy our need for renewables. Parakram Pyakurel takes the measure of the supply and demand for these critical materials, and looks at how Toyota is responding to the challenge.
The share of renewable energy (excluding hydro) in global electricity generation was around 8.4% in 2017. As their share rises, we must deal with the scarcity of critical metals and other minerals required by renewable energy systems. These materials include lithium, copper, cobalt and the rare earth elements. We are already seeing the effects renewables are having on their supply.
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