The Rethink Energy Podcast complements the Rethink Energy weekly strategy bulletin, as we dive deeper into the dynamic factors of the energy market. We discuss the week’s key issues, while providing insight into our own research and forecasts to give clearer direction of where momentum is building through the energy transition.
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The global platinum industry is going to see demand shift away from automotive use in catalytic converters towards usage in the PEM electrolyzer market, creating shortages arising from supply issues in South Africa. Q1 solar manufacturing has increased between 50-100% year-on-year depending on how you look at it. Meanwhile the US’ Republican party continues its attempt to sabotage its own domestic solar industry and water down the Inflation Reduction Act’s incentives.
Hydrogen’s use in road transportation is explained as the ramp up of global hydrogen trucking fleet set to begin in 2030s, with battery trucks taking early adoption lead through saturating short-haul routes. Major quartz sand suppliers pledge production increases as crucibles used in solar production continue to increase in price. Germany bans the installation of gas boilers from 2024, giving major boost to heat pump industry.
Rethink Energy explains Q4 2022 solar deployment and manufacturing figures and gives some insights to future expectations. Policymakers in the US look to prematurely end the country’s moratorium on the banning of Chinese-origin solar products, potentially crippling US solar deployments for the next 14 months. China looks to expand its ownership of African hydrogen projects that aim to export hydrogen Northwards to European industrial giants.
Macron’s third state visit to China since 2018 was this time accompanied by between 50-60 company executives and the EU Commission president Ursula von der Leyen aiming to increase cooperation with the country in a broad spectrum of energy technologies. 7 north-eastern US states have filed for $1.25 billion of the US’ $8 billion hydrogen hub fund established by the Department of Energy. Toyota’s new CEO has officially outlined the company’s increased commitment to electric vehicles including new vehicles to be produced in the US.
Japan’s revamped hydrogen strategy is expected to need $113 billion invested to reach 2040 goals of 12 million metric tons produced per year. OPEC+ has cut production in order to maintain $80 per barrel price floor while the US isn’t in a place to intervene. The Australian government has committed $10 billion to support Australian industry as it looks to remain internationally competitive.
The European Union has finalized its negotiations with Germany’s to accommodate its last-minute demands allowing an exception for the use of e-fuels within combustion engines past the 2035 deadline. EnerVenue has announced its plans to build a gigafactory in Kentucky as it aims to ramp up production of its nickel hydride batteries. Vietnam’s renewables market awaits a new mechanism to support industry expansion after its short-lived solar subsidies.
The Volkswagen Group has committed $130 billion towards electrification and digitization until 2028, increasing its share of total investment from 52% to 68% relative to 2018. The European Commission has officially announced its Critical Raw Materials Act and Net Zero Industry Act as its counterpart to the US’ Inflation Reduction Act in an attempt to lure back manufacturers from the United States. Finally the EIA has produced its annual energy outlook report and it continues to overstate the long-term importance of oil to the US economy.
The European Commission has finalized its proposal that threatens to transform the European electricity market with a marked shift towards distributed energy sources. The rapidly falling cost of hydrogen will turn a green steel premium into a discount faster than expected says a new report from Rethink Energy. Talks between the US and EU continue ahead of guidance concerning the US’ landmark Inflation Reduction Act later this month.
Petrobras has announced it will be conducting feasibility studies for 7 potential offshore wind projects on the coast of Brazil with the help of Equinor. High purity quartz sand becomes the new bottleneck in the solar supply chain as polysilicon worries ease. Ford has rejoined the race for truly autonomous driving as it establishes Latitude AI from the remains of its former investment Argo AI.
A new report from Rethink Energy projects global passenger EV markets to make dramatic shift towards LFP throughout this decade, and looks at what this means for global commodity markets. Germany looks to merge its grid operators in search of greater planning efficiency for new projects. Chile looks to use its vast mineral and potential renewable energy wealth to become a major hydrogen exporter.