Energy
Visualizing U.S. Energy Use in One Giant Chart
Visualizing U.S. Energy Use in One Giant Chart
If you feel like you’ve seen this diagram before, you probably have.
Every year, it’s assembled by the Lawrence Livermore National Laboratory, a research center founded by UC Berkeley and funded primarily by the U.S. Department of Energy.
The ambitious aim is to chart all U.S. energy use in one Sankey diagram, including the original energy source (i.e. nuclear, oil, wind, etc.) as well as the ultimate end use (i.e. residential, commercial, etc.) for the energy that was generated.
U.S. Energy Use in 2018
According to the research center’s most recent published version of the diagram, U.S. energy use totaled 101.2 quads in 2018.
In case you are wondering, a single quad is equal to 1 quadrillion BTUs, with each quad being roughly equivalent to 185 million barrels of crude oil, 8 billion gallons of gasoline, or 1 trillion cubic feet of natural gas.
Here is how the recent figure compares to previous years:
Year | U.S. Energy Consumption | % Fossil Fuels in Mix |
---|---|---|
2018 | 101.2 quads | 80.2% |
2017 | 97.7 quads | 80.0% |
2016 | 97.3 quads | 80.8% |
2015 | 97.2 quads | 81.6% |
2014 | 98.3 quads | 81.6% |
As you can see in the table, U.S. energy use has been generally increasing, eventually topping 100 quads per year by 2018. During this time, the total percentage of fossil fuels in the mix has dropped, but only from 81.6% to 80.2%.
Taking a closer look at the data, we can see that the largest percentage increases in the mix have come from solar and wind sources:
Source | 2014 | 2015 | 2016 | 2017 | 2018 | Change ('14-'18) |
---|---|---|---|---|---|---|
Solar | 0.427 | 0.426 | 0.587 | 0.775 | 0.949 | +122% |
Wind | 1.73 | 1.78 | 2.11 | 2.35 | 2.53 | +46% |
Energy use measured in quads (1 quadrillion BTUs)
Solar use has increased 122% since 2014, while wind jumped 46% over the same timeframe. Not surprisingly, energy derived from coal has fallen by 26%.
Dealing With the Rejects
One interesting thing about the diagram is that it also shows rejected energy, which represents the energy that actually gets wasted due to various inefficiencies. In fact, 68% of all energy generated is not harnessed for any productive use.
This makes sense, since gasoline engines are usually only about 20-40% efficient, and even electric engines are 85-90% efficient. Put another way, a certain percentage of energy is always released as heat, sound, light, or other forms that are hard for us to harness.
As electric cars rise in popularity and as modern gas-powered engines also get more efficient, there is hope that the amount of this rejected energy will decrease over time.
Energy
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.
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:
Date | LiOH·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%.
Year | Price 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.
Manufacturer | September 2022 | September 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 Type | 2022 | 2025 | 2030 |
---|---|---|---|
Buses 🚌 | 23,000 GWh | 50,000 GWh | 130,000 GWh |
Cars 🚙 | 65,000 GWh | 200,000 GWh | 570,000 GWh |
Trucks 🛻 | 4,000 GWh | 15,000 GWh | 94,000 GWh |
Vans 🚐 | 6,000 GWh | 16,000 GWh | 72,000 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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