Making the transition to a 100% clean, fully electrified economy will help cut emissions, lower costs, and increase reliability—but it will require more critical minerals and rare earth elements (REE). As we make this transition, the United States will become more energy secure, but will face a new landscape of commodity exposure. Today, we rely too often on tenuous supply chains, some of which are effectively monopolized by geostrategic competitors, for those resources. Despite record electric vehicle sales in 2023 and solar + storage topping all new energy deployed across the U.S., the advanced energy industry contends with highly concentrated sources for critical minerals such as lithium, nickel, cobalt, and copper, that power their technologies. Supply chain transparency, coupled with onshoring and friendshoring critical minerals production, diversified sourcing, and recycling play important roles in fortifying supply chains and reducing risk.
The Bipartisan TRACE Act is a Step Toward Greater Supply Chain Transparency
Posted by
Harry Godfrey & Joey Paolino on Jul 17, 2024 10:00:00 AM
Topics: Federal Policy, Critical Minerals