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There are challenges in sourcing the four major minerals needed to make the transition to the net-zero economy in the U.S.
S&P Global said the demand from decarbonization technologies, such as electric vehicles, charging infrastructure, solar PV, wind and batteries, will continue to accelerate and be materially higher for lithium , cobalt and nickel by 2035 than was projected before the IRA was enacted last August. S&P said the IRA is accelerating demand for critical minerals vital to energy transition technologies, – metals like lithium, nickel and cobalt – according to the analysis piece.
2035 is the Biden Administration’s ambitious target to reach 100 per cent carbon pollution-free electricity sector and a net zero emissions economy by 2050.There domestic content rules in the act. The report said what must be factored into the equation when it comes to mineral imports is the sense of urgency when it comes to the long lead times and permitting complexities that prolong development of mines in the U.S.
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