RE: Copper11 Aug 2018 17:50
According to a 2017 study by the International Energy Agency (IEA), sectors previously confined to fossil fuels are becoming increasingly electrified. The result is millions of new appliances, cooling systems, and vehicles in need of power; power conducted and distributed by copper. Add in the global demand for renewable energy, and this demand will only surge further as suppliers source copper for wind farms and solar energy systems.According to a report commissioned by the International Copper Association (ICA) for IDTechEx, the number of roadworthy electric and hybrid vehicles is expected to reach 27 million by 2027. Compared to the internal combustion engine, battery-powered vehicles require approximately 60kg more copper, the result of which is a projected 600 kilotons in additional copper demand by 2027.