Expansion of renewable energies and raw material requirements
The energy system of the future will be largely driven by renewable energies. According to estimates, the capacity of renewable energy plants in Germany will grow by around eleven gigawatts in 2023. Solar energy will account for 8.5 gigawatts of this. According to the International Energy Agency (IEA), the energy crisis marks the turning point toward more renewables and clean energy. Globally, clean power generation is expected to grow by 2,400 gigawatts from 2022 to 2027. Overall, global expansion in the power sector is expected to exceed 90 percent in renewables over the next five years. In the EU, last year was a record year for solar power. Now, 7.3 percent of electricity in the EU is produced by solar power. As the SolarPower Europe association calculates, by the end of 2023 solar capacity will be around 262 gigawatts in the EU. By 2026, it should then already be 484 gigawatts. At the same time, a decline in fossil electricity production is expected in 2023.
The target is net-zero CO2 emissions by 2050, and this will fuel demand for certain metals. That’s because electrolyzers, heat pumps and batteries that can store the energy produced will need to be manufactured. That’s where a shortfall in critical raw materials, such as lithium for lithium-ion batteries, is foreseeable, according to the International Energy Agency. Thus, companies working on lithium projects are coming into focus, such as Century Lithium or ION Energy.
In Nevada, Century Lithium – https://www.commodity-tv.com/play/century-lithium-next-lithium-production-in-the-usa/ – owns 100 percent of the Clayton Valley lithium project. The company’s goal is to supply the USA and also the rest of the world with lithium.
ION Energy – https://www.commodity-tv.com/ondemand/companies/profil/ion-energy-inc/ – is working on its two lithium projects in Mongolia. China with its gigafactories is close as a lithium consumer.
Current corporate information and press releases from Century Lithium (- https://www.resource-capital.ch/en/companies/century-lithium-corp/ -).
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