New Energy Powerplay from Oil to Electric. And China's growing dominance!
Global CO2 emissions need to drop to net zero by 2050 to limit the temperature rise to 1.5 deg Celsius above pre-industrial levels. Since fossil fuels account for 80% of global energy consumption and 75% of greenhouse gas emissions, countries are transitioning to cleaner energy systems like renewables and promoting energy efficiency.
The global scramble is particularly high for lithium, cobalt, nickel, copper and graphite that are key to the dominant lithium-ion (Li-ion) batteries, used to
power anything from mobile phones to electric cars to power grids. China’s rise in this new electro-economy has been meteoric.
70-80% of the global trade of most critical minerals.
23% of the global mine-output of battery minerals.
73% of the battery supply chain.
63.2% share of battery cell production
But there is another alternative. Hydrogen!
It is the ultimate green fuel. It is the most abundant element in the universe. It provides three times more energy than fossil fuels, and releases pure water as the only by-product.
Down to Earth is Science and Environment fortnightly published by the Society for Environmental Communication, New Delhi. We publish news and analysis on issues that deal with sustainable development, which we scan through the eyes of science and environment.