Biden rolls out a $192 million initiative to confront the environmental consequences of renewable batteries.
$192 million worth of project
The Department of Energy (DOE) has recently announced a substantial investment of $192 million to enhance lithium-ion batteries’ recyclability. This initiative aligns with the Biden administration’s commitment to phasing out gas-powered cars and promoting a transition to electric vehicles.
The U.S. DOE emphasized the importance of these investments in expanding research and development for battery recycling. They consider these investments vital for establishing a domestic supply chain of critical materials, essential for advancing the energy transition.
With the expected surge in the lithium battery market, projected to grow tenfold by 2030, the demand for electric vehicles and stationary energy storage is set to increase significantly, according to Utility Drive.
The Rise of Electric Vehicles
Amidst the growing adoption of electric vehicles, concerns have arisen regarding their potential environmental impact. The Foundation for Economic Education highlights that only about 5% of lithium-ion batteries are currently recyclable, compared to the 90% recyclability rate of batteries in conventional cars.
The Biden administration remains committed to promoting electric vehicles nationwide within the coming years, aiming to effectively mandate their usage. By investing in battery recyclability, the administration seeks to address the environmental concerns of the expanding electric vehicle market and ensure a sustainable and efficient energy transition, according to Just The News.