RARE EARTH METALS IN SOLAR AND WIND ENERGY SYSTEMS
DOI:
https://doi.org/10.37332/Keywords:
rare earth elements, critically important material, solar energy, wind energy, statistical method, forecastingAbstract
Novosad I.Yа., Ruska R.V., Plaskon S.A. RARE EARTH METALS IN SOLAR AND WIND ENERGY SYSTEMS
Purpose. The aim of the article is to conduct a comprehensive analysis of the supply routes for rare earth elements in solar and wind energy systems and to forecast the development of the market for these elements in the current conditions arising from the war and other factors.
Methodology of research. The scientific research methodology was used in the process of writing the article to determine generalised synthetic indicators on strategic ways of development and diversification of rare earth elements supply, as well as statistical and graphical methods to analyse the rare earth elements market and forecast supply and demand using time series. Graphs were used to visualise this data.
Findings. It has been established that rare earth elements (neodymium, dysprosium, terbium, silicon, indium, gallium), which are becoming increasingly strategically important in renewable solar and wind energy, are driving global demand while making it difficult to ensure stable supplies. This, in turn, makes it harder to build a more secure and decarbonised energy system. These challenges are extremely complex, especially given the rapidly changing geopolitical context and the unprecedented crises facing the EU.
The market analysis proved the concentration of rare earth materials production in China, which necessitates the development of effective mechanisms for diversifying supplies. In view of this, it is important to attract alternative sources, as well as to introduce modern processing technologies to meet the growing demand and develop strategies for sustainable meeting the needs of the green economy.
Originality. The concept of a comprehensive analysis of the ways of supply and use of rare earth elements in renewable energy systems, in particular solar and wind, is substantiated, which, unlike existing approaches, allows not only to determine their critical role in ensuring technological development in the transition to a climate-neutral economy, but also to identify potential threats to the stability of supply and formulate strategies to minimize them. Methodological approaches to forecasting the dynamics of the global rare earth materials market were improved, taking into account the impact of the latest environmental trends and transformations in global energy policy. The scientific understanding of the structural and functional aspects of logistics networks for the supply of rare earth elements was further developed.
Practical value. The results of this conducted study are of significant practical importance, as they can be used to substantiate the analysis and forecasting of logistics routes for the supply of rare earth elements, as well as to address issues related to future challenges and increased competition for strategic resources.
Key words: rare earth elements, critically important material, solar energy, wind energy, statistical method, forecasting.
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