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Prince Albert of Monaco: Together we can save our common home
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WHITE HOUSE: What Biden s 2030 climate target means for energy
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The new U.S. plan to rival China and end cornering of market in rare earth metals
The United States has made previous attempts to reemerge as a dominant player in a rare earths supply chain that is responsible for some of the most important materials involved in electric vehicle production, battery making, renewable energy systems and technology manufacturing. Under the Biden administration, the effort is receiving renewed focus, with massive investments planned in climate change technology and a hard line being taken on geopolitical rivalries and the national security threat posed by China.
Source: CNBC
In 2019, China was responsible for 80% of rare earths imports, according to the U.S. Geological Survey, although exports fell last year in part due to Covid-19.
President Biden s sweeping $2 trillion infrastructure legislation seeks to remake the power and transportation markets in the U.S. and rebuild the country s semiconductor industry. It follows Biden signing an executive order in February designed to review gaps in the domestic supply chains for rare earths, medical devices, chips and other key resources, and in March the Department of Energy announcing a $30 million initiative that will tap into researching and securing the U.S. domestic supply chain for rare earths and other important minerals in battery-making such as cobalt and lithium. Cornering of the market It s absolutely correct there is a cornering of the market with lithium and other rare earths, Biden climate envoy John Kerry recently said at a CNBC Evolve summit on the future of energy innovation.
April 17, 2021
Last August, solar developers entered an auction to sell power into the Portuguese electricity grid. And many planned to lose money on every megawatt. One of the winning bidders, Spanish solar firm Enerland, offered to sell electricity for €11.14 (US$13.12) per megawatt-hour (MWh), one of the lowest auctioned electricity prices in history. One megawatt hour is slightly more than the average home in the US consumes per month
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Enerland and other bidders are selling Portugal energy at prices as much as five-times lower (pdf) than the cost to generate it, estimates Bloomberg New Energy Finance (BNEF). But they are not throwing their money away. They’re betting the superior economics of solar power, and a coveted connection to the country’s crowded electricity grid, will cover any losses over the first 15 years (solar facilities are expected to last about 40 years). After that period, they can sell their power at prevailing market rates (now more than $50/Mwh),
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