• 4 minutes China 2019 - Orwell was 35 years out
  • 7 minutes Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 11 minutes Trump will capitulate on the trade war
  • 14 minutes Glory to Hong Kong
  • 3 hours 5 Tweets That Change The World?
  • 13 hours The power of propaganda has no boundaries: Which country has larger territory US od China
  • 7 hours Freedom of Speech for Dummies
  • 2 hours Boring! See Ya Clowns, And Have Fun In Germany
  • 2 hours Bloomberg: shale slowing. Third wave of shale coming.
  • 6 hours The Mysterious Iranian Tanker
  • 16 hours South Korea Unveils Fighter Jet Mock-Up Amid Program Challenges
  • 19 hours Iranian Oil Tanker struck by missiles off Jeddah
  • 13 hours How The US Quietly Lost The 1st Amendment
  • 18 hours National Geographic Warns Billions Face Shortages Of Food And Clean Water Over Next 30 Years
  • 8 hours Climate Protesters Blocking Roads etc...
  • 14 hours Crazy Stories From Round The World
Environmental Finance

Environmental Finance

Environmental Finance is still the only independent global magazine offering comprehensive coverage of the financial impact of environmental issues on the business community.  Leading industry…

More Info

Premium Content

Rare Earth Shortages - A Ticking Timebomb for Renewables?

A global scarcity of rare earth metals over the next five years could be “a ticking timebomb” for renewables and clean-tech, according to consultancy PwC.

Hybrid cars, rechargeable batteries and wind turbines are among the sectors which could be affected by a shortage of these metals, which include cobalt, lithium and platinum, says PwC’s report Minerals and metals scarcity in manufacturing: A ‘ticking timebomb’.

Rare earth metals are a key element for producing gearless wind turbines using permanent magnet generators, said Daniel Guttmann, London-based director for renewables and clean-tech at PwC.

Manufacturers favour gearless turbines increasingly as they are more reliable than geared turbines, which are heavier and have more moving parts.

“This is a real headache for the industry and may negatively impact the cost-curve of offshore wind,” he said.

Guttman added that two ways that automotive manufacturers expect to meet tightening emission regulations are electric vehicles and reducing vehicle weight, and rare earth metals are required to construct batteries of the right cost, weight and size.

“Scarce supply and the associated price implications could make it more difficult for [manufacturers] to keep pushing emissions down cost effectively,” he said.

However, when PwC surveyed 69 executives from seven different industries which would be affected by a scarcity of rare earth metals, almost three quarters expressed a lack of concern or a low concern.

In the renewable energy industry, 67% felt that they are sufficiently prepared as did 64% of the automotive industry. This is compared to about half of the respondents aviation industry and only about a third in the high-tech and chemical industries.

By. Elza Holmstedt Pell

Source: Environmental-Finance




Download The Free Oilprice App Today

Back to homepage



Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play