Role of critical metals in the future markets of clean energy technologies

Leena Grandell (Corresponding Author), Antti Lehtilä, Mari Kivinen, Tiina Koljonen, Susanna Kihlman, Laura S. Lauri

Research output: Contribution to journalArticleScientificpeer-review

41 Citations (Scopus)

Abstract

The global energy sector is expected to experience a gradual shift towards renewable energy sources in the coming decades. Climate change as well as energy security issues are the driving factors. In this process electricity is expected to gain importance to the cost of fuels. However, these new technologies are in many cases dependent on various metals. This analysis evaluates the need for special metals and compares it with known resources in order to find possible bottlenecks in the market. The time perspective of the analysis reaches to the year 2050. Following technologies have been selected for evaluation: solar electricity, wind power, fuel cells, batteries, electrolysis, hydrogen storages, electric cars and energy efficient lighting. The metals investigated belong either to the semiconductors, platinum group metals, rare earth metals or are other critical metals like silver and cobalt. The global transition of the energy sector is modelled with TIMES. According to the results the most critical market situation will be found in silver. Other elements, for which bottlenecks in the market seem possible, include tellurium, indium, dysprosium, lanthanum, cobalt, platinum and ruthenium. Renewable energy scenarios presented by the IPCC Fifth Assessment Report seem partly unrealistic from the perspective of critical metals.
Original languageEnglish
Pages (from-to)53-62
JournalRenewable Energy
Volume95
DOIs
Publication statusPublished - 2016
MoE publication typeA1 Journal article-refereed

Fingerprint

Metals
Fuel cells
Platinum
Cobalt
Silver
Electricity
Dysprosium
Energy security
Tellurium
Hydrogen storage
Lanthanum
Financial markets
Ruthenium
Electrolysis
Climate change
Indium
Wind power
Rare earths
Railroad cars
Lighting

Keywords

  • critical metals
  • clean energy technologies
  • TIMES model
  • resources
  • reserves

Cite this

Grandell, Leena ; Lehtilä, Antti ; Kivinen, Mari ; Koljonen, Tiina ; Kihlman, Susanna ; Lauri, Laura S. / Role of critical metals in the future markets of clean energy technologies. In: Renewable Energy. 2016 ; Vol. 95. pp. 53-62.
@article{19d661887cc9461d827cc954d2445ce7,
title = "Role of critical metals in the future markets of clean energy technologies",
abstract = "The global energy sector is expected to experience a gradual shift towards renewable energy sources in the coming decades. Climate change as well as energy security issues are the driving factors. In this process electricity is expected to gain importance to the cost of fuels. However, these new technologies are in many cases dependent on various metals. This analysis evaluates the need for special metals and compares it with known resources in order to find possible bottlenecks in the market. The time perspective of the analysis reaches to the year 2050. Following technologies have been selected for evaluation: solar electricity, wind power, fuel cells, batteries, electrolysis, hydrogen storages, electric cars and energy efficient lighting. The metals investigated belong either to the semiconductors, platinum group metals, rare earth metals or are other critical metals like silver and cobalt. The global transition of the energy sector is modelled with TIMES. According to the results the most critical market situation will be found in silver. Other elements, for which bottlenecks in the market seem possible, include tellurium, indium, dysprosium, lanthanum, cobalt, platinum and ruthenium. Renewable energy scenarios presented by the IPCC Fifth Assessment Report seem partly unrealistic from the perspective of critical metals.",
keywords = "critical metals, clean energy technologies, TIMES model, resources, reserves",
author = "Leena Grandell and Antti Lehtil{\"a} and Mari Kivinen and Tiina Koljonen and Susanna Kihlman and Lauri, {Laura S.}",
year = "2016",
doi = "10.1016/j.renene.2016.03.102",
language = "English",
volume = "95",
pages = "53--62",
journal = "Renewable Energy",
issn = "0960-1481",
publisher = "Elsevier",

}

Role of critical metals in the future markets of clean energy technologies. / Grandell, Leena (Corresponding Author); Lehtilä, Antti; Kivinen, Mari; Koljonen, Tiina; Kihlman, Susanna; Lauri, Laura S.

In: Renewable Energy, Vol. 95, 2016, p. 53-62.

Research output: Contribution to journalArticleScientificpeer-review

TY - JOUR

T1 - Role of critical metals in the future markets of clean energy technologies

AU - Grandell, Leena

AU - Lehtilä, Antti

AU - Kivinen, Mari

AU - Koljonen, Tiina

AU - Kihlman, Susanna

AU - Lauri, Laura S.

PY - 2016

Y1 - 2016

N2 - The global energy sector is expected to experience a gradual shift towards renewable energy sources in the coming decades. Climate change as well as energy security issues are the driving factors. In this process electricity is expected to gain importance to the cost of fuels. However, these new technologies are in many cases dependent on various metals. This analysis evaluates the need for special metals and compares it with known resources in order to find possible bottlenecks in the market. The time perspective of the analysis reaches to the year 2050. Following technologies have been selected for evaluation: solar electricity, wind power, fuel cells, batteries, electrolysis, hydrogen storages, electric cars and energy efficient lighting. The metals investigated belong either to the semiconductors, platinum group metals, rare earth metals or are other critical metals like silver and cobalt. The global transition of the energy sector is modelled with TIMES. According to the results the most critical market situation will be found in silver. Other elements, for which bottlenecks in the market seem possible, include tellurium, indium, dysprosium, lanthanum, cobalt, platinum and ruthenium. Renewable energy scenarios presented by the IPCC Fifth Assessment Report seem partly unrealistic from the perspective of critical metals.

AB - The global energy sector is expected to experience a gradual shift towards renewable energy sources in the coming decades. Climate change as well as energy security issues are the driving factors. In this process electricity is expected to gain importance to the cost of fuels. However, these new technologies are in many cases dependent on various metals. This analysis evaluates the need for special metals and compares it with known resources in order to find possible bottlenecks in the market. The time perspective of the analysis reaches to the year 2050. Following technologies have been selected for evaluation: solar electricity, wind power, fuel cells, batteries, electrolysis, hydrogen storages, electric cars and energy efficient lighting. The metals investigated belong either to the semiconductors, platinum group metals, rare earth metals or are other critical metals like silver and cobalt. The global transition of the energy sector is modelled with TIMES. According to the results the most critical market situation will be found in silver. Other elements, for which bottlenecks in the market seem possible, include tellurium, indium, dysprosium, lanthanum, cobalt, platinum and ruthenium. Renewable energy scenarios presented by the IPCC Fifth Assessment Report seem partly unrealistic from the perspective of critical metals.

KW - critical metals

KW - clean energy technologies

KW - TIMES model

KW - resources

KW - reserves

U2 - 10.1016/j.renene.2016.03.102

DO - 10.1016/j.renene.2016.03.102

M3 - Article

VL - 95

SP - 53

EP - 62

JO - Renewable Energy

JF - Renewable Energy

SN - 0960-1481

ER -