Rare earth metals are a group of elements that aren’t actually ‘rare’ at all. They are in plentiful amounts, found in certain areas of the Earth and the most abundant metals are cerium, yttrium, lanthanum and neodymium. A recent study featured in science publication Joule has found that Earth has enough rare earth metals for the green energy focus – so what does this mean for Net Zero?
What is needed for the green energy push?
According to the study, there are enough rare earth metals for “low-carbon electricity generation” technologies. Due to governments around the world setting their Net Zero goals, this has increased the demand for manufacturing technologies especially for the green energy agenda. These manufacturing industries include Wind Turbines, Electric Vehicles and Solar Panels to name a few. All of these industries are key players in removing carbon gasses from electricity generation and there are big plans across the board as to how national grids are adjusting for change.
Rare earth magnets are utilized for the manufacturing of wind turbines for example, which can store far more energy than conventional magnets, enabling parts, devices or equipment to be miniaturized in response to recent market trends. – TyTek Industries
The researchers from the study stated the amount of minerals available is ‘enough to supply a switch to renewable energy.’ However, they also warn that in the early days of the switch to green energy, there will be shortages. For example, there could be a shortage of the element called dysprosium which is used to make strong magnets. But the question is, if production of the materials can keep up with demand which is ever-increasing.
What is the U.S. Net Zero plan?
The current plans are to achieve Net-Zero emissions operations by 2050, including a 65% reduction by 2030. One of their key goals is to use 100% carbon pollution-free electricity by 2035, in which the Federal Government will execute a whole-of-government approach to increase use, production, and facilitation of carbon pollution-free electricity and storage to achieve this goal. – sustainability.gov
One of their other goals is to achieve 100% zero-emission vehicle acquisitions by 2035; this goal will certainly ramp up the electric vehicle industry even more than it already is. The EV industry heavily utilizes rare earth magnets in their motors, sensors and many other components, so this will only increase the demand for rare earths.
TyTek Industries are experts with rare earth magnets
We have been in the industry of producing magnets and magnetic assemblies for over two decades, with a wealth of expertise. You can discover more about the main applications of rare earth magnets here. Magnet assemblies require qualified, highly experienced manufacturing help in order to ensure their performance and success. With offices and production facilities in North America and China, our staff of designers, engineers, project and production managers is well positioned and well experienced to serve your magnetic needs every step of the way. Find out how you can work with TyTek industries to receive both low cost and high quality magnet services by contacting us!
Follow us on our socials to stay up to date with important industry news and much more from TyTek HQ.