Posted on 06/21/2023 8:12:10 AM PDT by SeekAndFind
* The growth in EV demand is outpacing the infrastructure needed to charge them, with experts predicting the need for more than a million new public EV charging stations in the U.S. by 2030 to accommodate the demand.
* Both cobalt and silicon, which are crucial for renewable energy sources like EV batteries, are in oversupply, causing bearish pressure on their prices; increased output from the Democratic Republic of the Congo and China is a key reason behind this.
* The production of grain-oriented electrical steel (GOES), necessary for the power sector and increasingly hard to source, is facing difficulties due to its complex manufacturing process and the rising demand, which is affecting universal access to reliable and modern energy services.
The Renewables MMI (Monthly Metals Index) continued to edge sideways, this time rising by just 2.64%. Cobalt and neodymium rising in price contributed the most to the index’s upward movement. This occurred despite massive oversupplies of cobalt, which is crucial to utilizing renewable energy sources like EV batteries. Meanwhile, grain-oriented electrical steel dropped month-over-month, with the steel plate components of the index either moving sideways or dropping slightly.
EV demand grew by 14% in 2022, and experts project an additional 18% growth by the end of 2023. In fact, global EV battery demand alone expanded by a whopping 65% in 2022. However, finding charging stations continues to present a problem. While the number of charging stations for EVs continues to grow, there’s only about one EV charging station for every gas station in the U.S., with each gas station averaging 4-8 pumps.
(Excerpt) Read more at oilprice.com ...
RE: The growth in EV demand is outpacing the infrastructure needed to charge them
Makes me wonder — is this “growth” (note the quotes) MARKET DRIVEN? (i.e., Americans REALLY, REALLY desire to buy EV’s over traditional vehicles ), Or is it a result of government mandates, laws and regulations?
If there is money to be made, it will happen. No need to worry about it.
You watch...they’re going to require them in every new home and for everyone that buys an EV. AND...it’s goona be a special charge.
Is there a EV being produced today that has solar panels on it’s roof to help it get along without the need to charge?
RE: If there is money to be made, it will happen.
Money as in what? Consumer money? Or Tax Payer money?
I applaud the former but detest the latter.
The environmental damage done by EVs will dwarf the alleged damage done by SUVs, but that’s OK because shut up.
You could not pay me enough to have an EV.
RE: Is there a EV being produced ...
Not trying to be pedantic, but gramatically, what is the correct article that one must used when referring to EV?
‘a’ or ‘an’ ?
An EV? Or A EV?
Charging stations must be connected to sources that can reliably supply the power.
Where will these million more charging stations get their power?
Just asking for a friend.
Sorry but the laws of physics still apply. These EVs simply can never replace vehicles with internal combustine engines in durability, range, performance and convenience. Beyond the niche Tesla market, GM, Ford, VW and even the Chinese are learning that consumers simply don’t want these cumbersome contraptions despite the propaganda.
The article ignores the need to build lots of new electrical distribution lines plus step-down transformers. That is going to be a huge bottleneck.
The demand for more EV charging stations will be tremendously diminished, when people realize that, EVs are not going to replace their trusty ICE vehicles.
And, the demand will be pulled back when democrats are no longer in control of the White House and congress. Insanity exists only when the insane are in charge.
If they had them ALL on line right now, there isn’t enough power generation capability to run them......................
HUH? I thought this was about EVs not carmela ‘fweedumb’ hawiss....................
Good luck keeping the copper wire chargers to the car. Copper is worth money.
FOOD IS NOT FACTORED INTO SS COLA RAISES. and as more AI take jobs the nearly 11 million unemployed Americans will keep growing.
Hyenaya Cackles Angola solar plant just cost 200 Alabama jobs. and we pay for it. $900 million https://dailycaller.com/2023/06/15/joe-biden-angola-solar-taxpayers-900-million/
Ivy announcement of 700 jobs https://www.wvua23.com/1-1b-solar-plant-in-lawrence-county-creating-700-plus-jobs/
Financial Hardship Surges as Cost-of-Living Crisis Squeezes Workers
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.