Industrial Electronics

Shortages loom for key energy transition metals

01 November 2024
Source: U.S. Geological Survey/Energy Transitions Commission

The projected expansion of wind solar and other renewable energy technologies, along with the attendant growth in electricity transmission infrastructure, requires a steady supply of energy transition materials. The need for these clean energy components will grow by more than 400% by 2030, but global supply is not on track to keep up with this surging demand.

Supply deficits loom for natural graphite, lithium and cobalt, which are critical for electric vehicles and energy storage. Shortages are also indicated for the nickel essential for batteries, wind turbines and green hydrogen systems, and the copper required for electrical wiring and expanding transmission networks. Data from the U.S. Geological Survey and the Energy Transitions Commission point to supply shortfalls by 2030 for these materials if the mining sector grows at its current trajectory.

An investment of $700 billion through 2050 will be needed to balance the supply deficits of these essential materials.

To contact the author of this article, email GlobalSpecEditors@globalspec.com


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