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[Slideshow] Powering New York

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[Slideshow] Powering New York

Imagine that overnight all power infrastructure in New York were to disappear. Then, starting from scratch, we could build anything we wanted: a giant solar array that stretches to the horizon, the world’s biggest windfarm, or a mega nuclear facility.

What would it take to power the Big Apple for a year with each individual energy source?

We’ve crunched the numbers for oil, natural gas, liquefied natural gas, solar, wind, and hydro. Then, we visualized what is needed for each to be hypothetically feasible as the city’s only source of energy. (Note: we’ve included some notes on our calculations at the bottom of this page.)

The results are quite mind boggling. For example, to facilitate New York City’s average power needs, you would need 12.8 km² of solar panels, enough to cover a good chunk of New Jersey. The average distance one can see into the horizon is 5km, which means that one would be able to see solar panels as far as the eye can see.

Another interesting example: powering New York City with hydroelectric based on average power needs would mean 14 Hoover Dams, each which produce about 4.2 billion kWh per year in energy. Using wind power, about half of Long Island would need to be converted into the world’s biggest wind farm to power New York City. That’s exponentially bigger than the current biggest wind farm in the United States, which is in the Tehachapi-Mojave region in California and has a nameplate capacity of 1,320 MW.

Quick notes on calculations

This presentation is for visualization purposes, and isn’t fully realistic on a technical basis because in reality, the supply and demand of energy is not constant. The city’s power needs fluctuate during base and peak load times. In terms of supply, the wind is not always blowing and the sun isn’t always shining. We based our numbers off of average electricity consumption, assuming that energy can be banked in times of surplus and used during times of deficiency.

We used some assumptions for the efficiency as well. For example, that a power plant burning oil has an efficiency of 533 kWh per barrel, or that our wind farm uses 1.5 MW turbines that have a capacity factor of 25%.

Use and share this presentation

Feel free to use or share this presentation by either:

  • Using the embed code on the slideshow
  • Saving the images and using them directly. Here’s a dump of all images used in a zip..
  • Sharing and/or linking directly to this page

If you use this, it is appreciated if you can give attribution credit back to Visual Capitalist

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Charted: 4 Reasons Why Lithium Could Be the Next Gold Rush

Visual Capitalist has partnered with EnergyX to show why drops in prices and growing demand may make now the right time to invest in lithium.

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The teaser image shows a bubble chart showing that the price of a Tesla is similar to that of other major auto manufacturers.

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The following content is sponsored by EnergyX

4 Reasons Why You Should Invest in Lithium

Lithium’s importance in powering EVs makes it a linchpin of the clean energy transition and one of the world’s most precious minerals.

In this graphic, Visual Capitalist partnered with EnergyX to explore why now may be the time to invest in lithium.

1. Lithium Prices Have Dropped

One of the most critical aspects of evaluating an investment is ensuring that the asset’s value is higher than its price would indicate. Lithium is integral to powering EVs, and, prices have fallen fast over the last year:

DateLiOH·H₂O*Li₂CO₃**
Feb 2023$76$71
March 2023$71$61
Apr 2023$43$33
May 2023$43$33
June 2023$47$45
July 2023$44$40
Aug 2023$35$35
Sept 2023$28$27
Oct 2023$24$23
Nov 2023$21$21
Dec 2023$17$16
Jan 2024$14$15
Feb 2024$13$14

Note: Monthly spot prices were taken as close to the 14th of each month as possible.
*Lithium hydroxide monohydrate MB-LI-0033
**Lithium carbonate MB-LI-0029

2. Lithium-Ion Battery Prices Are Also Falling

The drop in lithium prices is just one reason to invest in the metal. Increasing economies of scale, coupled with low commodity prices, have caused the cost of lithium-ion batteries to drop significantly as well.

In fact, BNEF reports that between 2013 and 2023, the price of a Li-ion battery dropped by 82%.

YearPrice per KWh
2023$139
2022$161
2021$150
2020$160
2019$183
2018$211
2017$258
2016$345
2015$448
2014$692
2013$780

3. EV Adoption is Sustainable

One of the best reasons to invest in lithium is that EVs, one of the main drivers behind the demand for lithium, have reached a price point similar to that of traditional vehicle.

According to the Kelly Blue Book, Tesla’s average transaction price dropped by 25% between 2022 and 2023, bringing it in line with many other major manufacturers and showing that EVs are a realistic transport option from a consumer price perspective. 

ManufacturerSeptember 2022September 2023
BMW$69,000$72,000
Ford$54,000$56,000
Volkswagon$54,000$56,000
General Motors$52,000$53,000
Tesla$68,000$51,000

4. Electricity Demand in Transport is Growing

As EVs become an accessible transport option, there’s an investment opportunity in lithium. But possibly the best reason to invest in lithium is that the IEA reports global demand for the electricity in transport could grow dramatically by 2030:

Transport Type202220252030
Buses 🚌23,000 GWh50,000 GWh130,000 GWh
Cars 🚙65,000 GWh200,000 GWh570,000 GWh
Trucks 🛻4,000 GWh15,000 GWh94,000 GWh
Vans 🚐6,000 GWh16,000 GWh72,000 GWh

The Lithium Investment Opportunity

Lithium presents a potentially classic investment opportunity. Lithium and battery prices have dropped significantly, and recently, EVs have reached a price point similar to other vehicles. By 2030, the demand for clean energy, especially in transport, will grow dramatically. 

With prices dropping and demand skyrocketing, now is the time to invest in lithium.

EnergyX is poised to exploit lithium demand with cutting-edge lithium extraction technology capable of extracting 300% more lithium than current processes.

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