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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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.
EverWind Fuels receives environmental approval for its planned $6bn hydrogen project in Nova Scotia, Canada. Our solar forecasts are up yet again following production figures and polysilicon prices. Tata Motors and Uber sign a deal for 25,000 EVs to serve India’s urban population as the country is set to begin catching up on EV demand.
Ford signs a deal with CATL to build a $3.5 billion LFP battery factory in Michigan for 2026, marking what could be a wave of intellectual property deals with Chinese battery leaders to produce price-competitive batteries in the US while maybe still complying with IRA subsidies. Portugal sees $8.6 billion investment in wind which will likely spill out towards hydrogen production in the future. China’s intellectual property ban including some solar industry tech looks to be trying to stifle foreign manufacturing efforts.
The North and Baltic seas see investment looking at future green hydrogen production from wind energy. China exports nearly 160GW of solar in 2022, and manufactures 40GW this January alone. Australia begins a consultation on developing a domestic battery manufacturing industry to complement its massive domestic mining resources.
China looks to ban technology exports affecting the solar and semiconductor industries as it heightens trade-war tensions. Rethink publishes our flagship annual publication covering the sources of electricity going forwards, while predicting the implications of a changing energy mix and who will come out ahead in the future. Japanese automotive manufacturers continue to not put enough money towards electrification but the head of Lexus taking over the reigns as CEO of Toyota could change the region’s fate.
India has set forwards investment for a domestic hydrogen production industry. The EU Commission has begun its consultation to reforms in its domestic energy market aimed at protecting consumers from the volatility of natural gas prices. US transmission investment remains muted compared to staggering Chinese investment
The EU Commission President, Ursula Von der Leyen, announces plans for further stimulus for the European Union that looks rather similar to the US’ Inflation Reduction Act tax break incentives. Britishvolt enters administration in a significant blow to UK battery manufacturing. Finally, plans for the first transatlantic flight powered by hydrogen are unveiled for an unmanned drone to fly over 3,300km.
GM, Google, and the Rocky Mountain Institute gather a consortium of companies seeking to expand the use of virtual power plants (VPP) in the US. Despite imposing tariffs on Chinese solar components, India does not have the domestic manufacturing capacity to meet this year’s demand. Gas prices plummet to pre-war levels in Europe as a result of the region’s effort in sourcing alternatives and a mild winter thus far.
The price of Chinese solar modules has begun to fall because of supply chain investment bearing fruit, particularly in the supply chain for polysilicon. China lays out plans for a $12 billion energy hub in Inner Mongolia, with little concern given to hydrogen production, something that we think could be added later. Finally the United States Postal Service has caved and set forward plans to electrify its fleet after significant resistance and $3 billion from the Biden Administration.
Canada publishes its critical mineral strategy alongside $4 billion in funding to enable mineral extraction in preparation for IRA demand. The EU Commission creates the Photovoltaic Industry Alliance with the goal of developing a 30GW solar manufacturing base by 2025, and Meyer Burger gathers perovskite companies in pursuit of 30+% tandem.