About Which metals are needed for energy storage
Clean energy technologies often rely on certain key metals which will be needed if they are to continue to expand. Two metals in particular, lithium and cobalt, have seen supply chain fears in recent years, althoug.
It is widely acknowledge that a swift ramp up of low-carbon technologies will be needed in order for the world to meet the Paris Agreement’s goals of limiting warming to “well below 2C.
Scaled-up deployment of low-carbon technology will mean that several countries find their natural resources in increasingly high demand. The map below shows the location of curren.
There have been concerns over the prices of metals needed for low-carbon technology, with the price of cobalt, lithium and even copperon the rise in recent years, as the chart belo.
Even if current reserves and resources of a metal are sufficient for the foreseeable future, shortages could still be possible. Logan Goldie-Scot, head of energy storage analysis at BNEF.A mixture of graphite, lithium, cobalt, nickel, and manganese is needed for state-of-the-art BEV batteries (90% of the anticipated demand for energy storage), whereas vanadium is the metal of choice for static power storage for industrial needs, such as solar and wind farms (World Bank Report in 2020).
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