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We Might Not Have Enough Materials for All the Solar Panels and Wind Turbines We Need, an Analysis Finds (popularmechanics.com)
An anonymous reader writes: Plenty of high-tech electronic components, like solar panels, rechargeable batteries, and complex circuits require specific rare metals. These can include magnetic neodymium, electronic indium, and silver, along with lesser-known metals like praseodymium, dysprosium, and terbium. These metals are mined in large quantities in countries around the world, and they make their way into the supply chains of all sorts of electronics and renewables companies.
A group of researchers from the Dutch Ministry of Infrastructure determined how many of these important metals will be required by 2050 in order to make enough solar panels and wind turbines to effectively combat climate change. With plenty of countries, states, cities, and companies pledging to go 100 percent renewable by 2050, the number of both solar panels and wind turbines is expected to skyrocket. According to the analysis, turbines and solar panels might be skyrocketing a bit too much. Demand for some metals like neodymium and indium could grow by more than a dozen times by 2050, and there simply might not be enough supply to power the green revolution.
A group of researchers from the Dutch Ministry of Infrastructure determined how many of these important metals will be required by 2050 in order to make enough solar panels and wind turbines to effectively combat climate change. With plenty of countries, states, cities, and companies pledging to go 100 percent renewable by 2050, the number of both solar panels and wind turbines is expected to skyrocket. According to the analysis, turbines and solar panels might be skyrocketing a bit too much. Demand for some metals like neodymium and indium could grow by more than a dozen times by 2050, and there simply might not be enough supply to power the green revolution.
I predict that when the coming resource crunch comes, if ever, the rising price of such-and-such raw material will rise enough that an alternative will emerge. Neodymium too costly? You can make a perfectly good electric generator using other magnets or inductance. Indium too expensive? Well, perhaps we won't use as many CIGS solar panels, and instead stick with silicon.
And, who knows, we'll probably be prospecting asteroids by 2050. If the cost for certain materials on earth is high enough, there may be a business case for it. Indium costs about $5/gram presently, or $5M/tonne. If there's a resource crunch and the cost goes up, say, 5-fold, perhaps someone will have enough incentive to mine asteroid indium for $25M/tonne.