Lithium, the Key to Achieving Net Zero Emissions by 2050
With international efforts underway to adopt net zero emissions by 2050, lithium has emerged as the battery chemistry of choice. This valuable metal serves as the key active material in rechargeable batteries used in consumer electronics, electric vehicles (EVs), and renewable energy systems. While the percentage of batteries containing lithium may vary based on the application, type, and size of the battery, lithium-ion batteries have become the dominant technology for EVs and renewable energy systems, accounting for 60% of the global battery market in 2022.
As the demand for lithium-ion batteries continues to rise, with a projected market share of 85% by 2030, the discovery of one of the largest lithium deposits in the US has sparked enthusiasm within the energy sector. The vast new lithium deposit located in the Nevada-Oregon border region has the potential to revolutionize battery production and energy storage projects. Estimated to be between 20-40 million tons, this deposit could make the US the world’s largest source of lithium, reducing dependency on imports and potentially lowering costs for consumers.
The industry’s response to this groundbreaking discovery has been overwhelmingly positive, with battery manufacturers, energy storage companies, and researchers eager to tap into these newfound lithium resources. The inferred resource estimates associated with these deposits are expected to guide future lithium extraction projects in the US, driving advancements in battery technology and energy storage solutions.
This significant stride towards self-sufficiency in battery materials aligns with the global shift towards sustainable energy sources and cleaner technologies. The availability of vast lithium deposits in the US presents a strategic advantage for stakeholders looking to enhance domestic battery production and support the transition to renewable energy sources. As the industry embraces this new era of possibilities for battery technology and energy storage initiatives, a greener and more resilient energy future comes into focus.
