a pass clean energy system and non-pollution will increase the demand for critical minerals in the production of new technologies such as photovoltaic panels, wind turbines or electric car batteries, among others. By 2040, depending on developments in emission reductions Global demand may increase 4 to 6 times compared to what is happening now. Therefore, adequate planning is required to ensure the supply and guarantee the success of this energy transition.
This is the conclusion of the report ‘Energy transition and critical minerals’ prepared by Professor Mariano Marzo and published by the Naturgy Foundation.
According to the document, demand is not stopping and will continue to grow: “Critical minerals These represented 11% of the total value of international trade in energy raw materials in 2019, rising to 47% in 2050.Fossil fuels will develop in the opposite direction, from 89 percent to 18 percent,” reads the text published by the above-mentioned organization.
Mariano Marzo’s report underlines the challenge posed by the security of supply of these materials. “Without safe and resilient supply chains for these minerals and the products derived from them, energy transitions risk becoming slower and more expensive.”
As renewable energies have become widespread around the world since 2010 mixture energy, “the average amount of minerals needed per unit electricity production capacity” increased by 50 percent.”
For example, “an electric car increases the mineral raw materials used by a conventional car (with an internal combustion engine) by six times, and a wind farm requires nine times more minerals than a natural gas combined cycle plant.”
Key elements for renewable energy
Minerals such as lithium, nickel, cobalt, manganese and graphite They are essential for the performance, longevity and energy density of batteries. Rare earth elements are essential for wind turbines and electric vehicle motors. Electrical networks also require large amounts of copper and aluminum.
These are some examples of the new dependency that decarbonization can create. In this sense, Marzo refers to “the management of environmental, economic, social and geopolitical impacts that occur throughout the entire value chain, from the extraction and processing of new raw materials required for the energy transition to the final recycling.” It’s a huge challenge.”
Within the framework of the energy trilemma, the security of supply of critical minerals throughout the value chain will be vital. The professor notes that “existing international energy security mechanisms are designed to respond quickly to possible interruptions in the supply of hydrocarbons or certain increases in their prices” and confirms: “Given the new vulnerabilities associated with the “increasing importance” of mineral supplies for the decarbonization of the energy system Considering this, it would be naive to think that concerns about price volatility and supply security will disappear in an electric system in which renewable energy sources play a major role.”
These raw materials represent an important element in the cost structure of many technologies. “For example, a doubling of lithium or nickel prices would result in a 6% increase in battery cost. And if the prices of both doubled at the same time, this would negate any reduction in unit costs resulting from doubling battery production capacity,” explains the report’s author.
Gradual and inadequate action
“The reality is that supply and investment plans in critical minerals on a global scale today are incremental action clearly insufficient to mitigate climate changeAccording to the professor, “It is not designed to promote an accelerated energy transition and presents numerous vulnerabilities that could increase tensions and price fluctuations in markets.”
Among the weak points, the high geographical concentration of production and processing, the long period required for the development of new mining projects, the decline in the quality of resources stand out; increasingly demanding environmental and social scrutiny of companies and increased exposure to risks from climate change.
In the heat of the race for leadership in the energy transition, states are vying for control of the supply chains of low-carbon technologies. In this sense, Mart recalls: “China is clearly leading this competition. There is a real possibility that this country will take control of the geopolitics of the supply chains of critical minerals and, accordingly, low-carbon energy technologies. “An assumption that would allow the Asian giant to occupy a privileged position in the hypothetical new global energy order that could result from the current climate emergency.”
for the month of March”Strengthening the security of supply of critical minerals “The energy transition required for the energy transition constitutes a strategic objective for the European Union and each of its member states” and therefore advocates ensuring adequate investment in new sources of supply; promoting technological innovation at every point in the value chain; scale recycling; improving supply chain resilience and market transparency; incorporate stronger environmental, social and governance standards; and strengthening international cooperation between producers and consumers.
Reference article: https://www.fundacionnaturgy.org/la-transicion-energetica-trabajo-multiplicar-por-seis-veces-la-demanda-de-minerales-criticos-para-cumplir-los-objetivos-de-decarbonization /
………….
Contact address of the environmental department:[email protected]