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WASHINGTON, D.C. — The U.S. Department of Energy (DOE) today awarded nearly $40 million to 40 projects that are advancing the next generation of solar, storage, and industrial technologies necessary for achieving the Biden–Harris administration’s climate goal of 100% clean electricity by 2035. Specifically, the projects will reduce the cost of solar technologies by increasing the lifespan of photovoltaic (PV) systems from 30 to 50 years, developing technologies that will enable solar to be used in fuel and chemicals production, and advancing novel storage technologies.

“We are laser focused on deploying more solar power and developing more cost-effective technologies to decarbonize our electricity system,” said Secretary of Energy Jennifer M. Granholm. “Research to develop stronger and longer-lasting solar panels is critical to addressing the climate crisis. The 40 projects announced today — led by universities and private industry across the country — is an investment in the next generation of innovations that will strengthen the nation’s solar capacity and enhance our grid resilience.”

The 40 projects announced today focus on concentrating solar-thermal power (CSP) and PV. PV technologies directly convert sunlight into electricity, while CSP captures heat from sunlight and uses that thermal energy. The projects will focus on:

  • Photovoltaic research — Three projects to help make PV systems last 50 years, 20 years longer than current PV system lifetimes, which would reduce replacement and maintenance costs of solar systems. These projects will enable modular components that could be easily replaced due to normal wear and tear or after extreme weather events and better monitoring of systems. (Total award amount: $4.5 million)
  • Concentrating solar-thermal power research — Thirteen projects will develop technologies that can enable CSP plants to operate at very high temperatures, which are necessary to produce fuels and chemicals with solar. These projects also improve commercial CSP plants’ overall reliability. (Total award amount: $25 million)
  • Pumped thermal energy storage — Three  projects will develop long-duration thermal energy storage, which can store and deliver at least 10 hours of electricity whenever it is needed, supporting DOE’s Long Duration Storage Shot. (Total award amount: $4 million)
  • PV and CSP research advancement — Twenty-one projects will test novel ideas that can produce significant results in less than two years. These projects have a simplified application process, designed to encourage applications from engineering and science researchers  in traditionally underrepresented groups, as well as early-career researchers  who have never applied or been selected for DOE funding. (Total award amount: $6 million)

“Colorado is leading the way in deploying clean energy and developing innovative solar technologies, while demonstrating the clear economic benefits of investing in the clean energy industry. These projects are exactly the type of research we should invest in to decarbonize our electric grid, ensure long-term growth of America’s solar industry, and confront climate change,” said U.S. Senator Michael Bennet (CO).

“This Department of Energy investment in the University of Wisconsin-Madison will support new technologies and innovation at concentrating solar power plants, which can lead to lower operational costs and better reliability. We are thankful that the Biden Administration recognizes that Made in Wisconsin science, research, and innovation can play a leading role in helping to create clean energy jobs and a renewable energy economy,” said U.S. Senator Tammy Baldwin (WI).

“These are critical resources that will help the Nevada System of Higher Education continue to lead with its cutting-edge research programs. Nevada’s innovation economy benefits everyone in our state and across the nation, and I’m continuing to promote it through my Innovation State Initiative to fund research, support clean and renewable energy, and create good-paying jobs,” said U.S. Senator Catherine Cortez Masto (NV).

“Northwest Ohio continues to play a leading role in shaping the national and global response to the crisis of climate change. The University of Toledo is on the front lines of this effort, and its work to advance next-generation solar technologies will play a critical part in delivering the affordable, reliable, low-emission energy we need for our success in the 21st century,” said U.S. Representative Marcy Kaptur (OH-09), Chairwoman, House Appropriations Subcommittee on Energy and Water Development.

“The National Renewable Energy Lab continues to shine as the world’s leading lab in renewable energy and energy efficiency by making groundbreaking innovations in solar technology. These two projects will help bring us to a cleaner future by improving energy storage and making perovskite technology, which directly converts sunlight into electricity, more accessible. I’m proud of today’s announcement and of the work NREL continues to do to combat climate change,” said U.S. Representative Ed Perlmutter (CO-07).

“I want to congratulate the team at UNLV on being awarded $200,000 from the Department of Energy towards their groundbreaking research to improve the efficiency of renewable energy generation. Representing the fastest warming city and the sunniest state in the nation, Nevada has much to gain in our transition to a clean energy economy. These investments will advance the necessary research and innovation that will spur that development,” said U.S. Representative Dina Titus (NV-01).

“These awards will undoubtedly advance much-needed solar, storage, and industrial technologies, and will lay the groundwork for achieving a pathway to a zero-carbon grid — an investment that is needed to combat climate change. I am proud to see Columbia University of New York’s 13th congressional district among those awarded to continue their groundbreaking research on solar technology. Renewable solar energy is critical in our efforts to lower our nation’s carbon footprint, and I commend Secretary Granholm for her continued commitment to the path forward addressing the ever-growing climate crisis,” said U.S. Representative Adriano Espaillat (NY-13).

“We continue to see the impacts of climate change first hand in New Hampshire and across the country. As we look to protect our planet, continued investment in innovative clean energy technology is essential. I’m pleased Brayton Energy will receive these federal funds to continue their work in sustainable energy, and I remain committed to ensuring New Hampshire remains a leader in building our clean energy future,” said U.S. Representative Chris Pappas (NH-01).

To better inform DOE about future research needs, DOE seeks comment on two requests for information: (1) proposed research areas for supporting American solar manufacturing and (2) performance targets for perovskite photovoltaics. Stakeholders in the solar industry, business community, financing entities, and others are encouraged to respond.

Learn more about DOE’s Solar Energy Technologies Office and its research priorities in PV and CSP.

Article courtesy of U.S. Department of Energy’s (DOE)

 

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Tesla posted record China sales in 2024. But this year is going to be tough as competition heats up

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Tesla posted record China sales in 2024. But this year is going to be tough as competition heats up

Tesla models Y and 3 are displayed at a Tesla dealership in Corte Madera, California, on Dec. 20, 2024.

Justin Sullivan | Getty Images

Electric vehicle-maker Tesla’s sales in China climbed to a record high last year. Sustaining that performance in 2025 could prove tricky as competition with homegrown players intensifies, analysts said.

The U.S. electric vehicle maker saw annual sales in China jump 8.8% to a record high of more than 657,000 cars in 2024. In December alone, its sales rose 12.8% from the previous month to 83,000 units, according to Tesla China.

However, Tesla has been losing market share to Chinese new-energy-vehicle players, down from 7.8% in 2023 to 6% in the January to November period last year, according to Bill Russo, founder and CEO of Automobility, who believes Tesla is “struggling to keep pace [with domestic rivals] and has a limited and aging product portfolio.”

Brand resiliency and price cuts have supported Tesla’s sales so far, said Tu Le, founder and managing director of Sino Auto Insights, but he was less certain that Tesla could keep up its momentum in 2025, given the lack of new products and increased local competition, especially from Chinese companies.

Aggressive price war

Tesla slashed the price for its best-selling Model Y in China by 10,000 yuan ($1,364.5) in late December and extended a zero-interest five-year loan plan for car buyers until the end of January.

Its best-selling Model Y now starts at 239,900 yuan after the discount, while the Model 3 sedan starts at 231,900 yuan — Tesla had cut its prices by 14,000 yuan in April — according to its website.

Still that marked a significant premium over a swath of cheaper models offered by Chinese domestic carmakers. BYD, which dominated the market with around 34% market share, prices one of its best-selling models Seagull at 136,800 yuan, and the more affordable Yuan Plus model, starting at 96,800 yuan.

TOPSHOT – People look at a BYD Seagull car by Chinese electric vehicle (EV) manufacturer BYD Auto at the Bangkok International Motor Show in Nonthaburi on March 27, 2024. (Photo by Lillian SUWANRUMPHA / AFP) (Photo by LILLIAN SUWANRUMPHA/AFP via Getty Images)

Lillian Suwanrumpha | Afp | Getty Images

As the price war extends into the new year, Li Auto introduced cash subsidies of 15,000 yuan per purchase along with a three-year zero-interest financing scheme, according to a post last Thursday on its social media Weibo account. Nio also extended a similar three-year zero-interest loan plan for its EV buyers.

The purchasing incentives came on top of Chinese authorities’ push to extend the consumer goods trade-in program, which subsidizes consumers to trade in old cars or appliances and buy new ones at a discount.

The government-subsidized trade-in program could further lower prices for both Model 3 and Model Y by up to 50,000 yuan, Tesla China said.

“Tesla has to discount aggressively to keep pace with the ongoing price war in the market,” Russo noted.

Despite dwindling market share, Tesla is unlikely to lose its ground completely in China, according to Joe McCabe, CEO and president of AutoForecast Solutions, who compared Tesla as “the Apple of cars” — an “early adopter” in the EV space with “phenomenal” technology.

“I don’t think Tesla is at risk of not surviving,” McCabe added, “all [Elon Musk] has to do is drop the price by 5%, because he can, and that will help for little blips.”

Head-to-head race

In addition to lowering prices, Chinese electric carmakers have rolled out a slew of new models, many with fancy in-car features, such as projectors, embedded refrigerators and driver-assist systems.

Meanwhile Tesla has been slow in adopting any of these features, with its product portfolio focused solely on fully electric vehicles, while its homegrown rivals have steered into plug-in hybrid cars and extended-range EV categories.

These more traditional models appeal to buyers who are “still worried about the leap to fully electric [cars],” Sam Fiorani, vice president of AutoForecast Solutions said. “Tesla has no plans for anything other than fully electric vehicles.”

Tesla needs to 'up its game' to retain leadership in EV transition: Investment strategist

The automaker’s plans of launching its full self-driving supervised system still hinges on regulatory permission in China, while several local competitors have made the advanced driver-assistance systems a basic part of their offering, including BYD.

Musk had warned in January that Chinese automakers could “demolish most other car companies in the world” unless regulators intervene with trade barriers, as the Warren Buffet-backed BYD overtook Tesla as the world’s top-selling EV company in the last quarter of 2023.

The U.S. imposed a 100% duty on Chinese EVs last September to protect its homegrown industries from the pricing pressure posed by heavily-subsidized peers from China. The European Union has also moved to impose tariffs as high as 45.3% on Chinese EV cars imported late last year, while Tesla enjoyed a lower tariff rate of 7.8%.

The trade barriers would force Chinese automakers to find buyers at home and in the “smaller, friendlier” foreign markets, adding pressure on Tesla’s sales in China and elsewhere, Fiorani added.

Tesla’s sales of China-made EV cars including exports to foreign markets fell modestly by 0.4% from a year ago to 93,766 units in December, according to CNBC’s calculation of China Passenger Car Association data.

BYD, which is subject to 17% tariff duties for car exports to European Union, still led the rank with 509,440 cars sold in December, a near 50% year-on-year jump.

—CNBC’s Evelyn Cheng and Sonia Heng contributed to this report.

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Bosch teases big announcement on electric bike battery innovation

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Bosch teases big announcement on electric bike battery innovation

Bosch eBike Systems plans to announce something new at CES 2025, perhaps related to advances in its electric bicycle battery technology. A cryptic teaser video gives a taste of what’s to come.

In the video seen below, a Bosch PowerPack 800 e-bike battery can be seen along with the words “Protect what is valuable” on either side of the battery.

The clues could lead in several directions, potentially relating to the battery’s safety or to advances in theft prevention.

Is Bosch unveiling potted e-bike batteries?

One potential theory centers around the possibility of Bosch unveiling potted batteries, a design that encases the internal components and battery cells in resin or other solid protective materials. This construction method is highly valued for its resistance to water, shocks, and vibrations, making it ideal for mountain bikers and commuters who ride in challenging environments.

While the concept is not new, it is still uncommon in the electric bicycle battery industry. Last year, the electric bicycle brand Rad Power Bikes unveiled new potted batteries as part of their SafeShield line of batteries.

The practice does raise some concerns regarding the ability to recycle such batteries, but Rad Power Bikes has said that its SafeShield batteries are still recyclable. Accessing the cells is difficult when potted batteries are discontinued, but many battery recycling programs grind up the entire battery and use a series of separators such as magnets, screens, and centrifuges to isolate the important materials for further recycling.

The shift towards potted batteries marks a significant increase in battery safety, especially for riders on rough terrain or who ride in wet environments. Physical damage and water ingress (especially salt water from coastal regions or areas with significant road salt usage) are two leading causes of e-bike battery fires. While such fires are still quite rare considering the large number of e-bike batteries in circulation, addressing those two areas, which are commonly seen in Bosch’s two main markets of electric mountain bikes and commuter e-bikes, could go a long way towards improving safety.

Does Bosch have a new theft protection system?

Another possible interpretation of the teaser could relate to anti-theft technology. Battery theft has become a growing concern for e-bike riders, especially in urban areas where bikes are often left locked up outside. Bosch might be addressing this issue by introducing integrated theft-prevention features.

Potential innovations could include built-in GPS trackers for locating stolen batteries, more tamper-proof locking mechanisms, or even remote disabling capabilities that render a stolen battery unusable.

Other companies, such as the now-defunct Juiced Bikes, have built e-bike batteries with specially designed cavities for concealing Airtags or other location-tracking devices.

While details remain under wraps, Bosch’s teaser has created a buzz in the e-bike community due to the e-bike component maker’s large market share. The official announcement from Bosch is expected soon, and we’ll report back as soon as we know more.

Until then, let’s hear your thoughts in the comment section below. What could Bosch’s engineers be cooking up this time?

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Several commodities face headwinds in 2025 — but this metal’s record rally is set to continue

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Several commodities face headwinds in 2025 — but this metal's record rally is set to continue

Gold bullions are displayed at GoldSilver Central’s office in Singapore June 19, 2017.

Edgar Su | Reuters

Commodity prices are largely expected to fall in 2025 due to a sluggish global economic outlook and a resurgent dollar, but gold and gas prices are poised to rally this year, according to industry experts.

Commodities had a mixed 2024: While investors flocked to gold to hedge against inflation, commodities such as iron ore fell as the world’s largest consumer of metals, China, struggled with tepid growth. The story this year is likely to be the same.

“Commodities in general will be under pressure across the board in 2025,” said research firm BMI’s head of commodities analysis Sabrin Chowdhury, adding that the strength of the U.S. dollar will cap demand for commodities priced in the greenback. 

Market participants will be keeping an eye on further China stimulus in hopes that it may fuel a recovery in commodities demand in the world’s second-largest economy. 

Oil prices to slip

Crude oil prices last year were dragged down by weak Chinese demand and a supply glut, and market watchers expect prices to remain pressured in 2025.

The International Energy Agency in November painted a bearish oil market picture for 2025, forecasting global oil demand to grow under a million barrels per day. This compares to a two million barrel per day increase in 2023.

Commonwealth Bank of Australia sees Brent oil prices falling to $70 per barrel this year on expectations increased oil supply from non‑OPEC+ countries that’ll eclipse the rise in global oil consumption.

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Oil prices year-on-year

BMI said in its December note that the first half of 2025 was likely to see a supply glut as substantial new production from U.S., Canada, Guyana and Brazil comes online. Also, if OPEC+ plans to roll back voluntary cuts materialize, the oversupply will further pressure prices.

BMI noted that the demand picture in 2025 was not clear yet. “Global oil and gas demand remains uncertain, with stable economic growth and rising fuel demand offset by trade war impacts, inflation and contracting demand in developed markets.”

Global crude benchmark Brent was last trading at $76.34 per barrel, around the same levels as it was a year ago in early January.

Gas set to rise

Global natural gas prices have rallied since mid-December 2024, driven by cold weather and geopolitics, Citi analysts said.

Ukraine’s recent halt of Russian gas flow to several European nations on New Year’s Day has introduced greater uncertainty to the global gas markets. As long as the cutoff remains in place, gas prices are likely to remain elevated.

Colder weather for the rest of winter in the U.S. and Asia could also keep prices elevated, said Citi.

BMI forecasts gas prices to rise by about 40% in 2025 to $3.4 per million British thermal units (MMbtu) compared to an average of $2.4 per MMbtu in 2024, driven by growing demand from the LNG sector and higher net pipeline exports. 

U.S. Henry Hub natural gas prices, which was the gauge that BMI referred to, are currently trading at $2.95 per MMbtu.

“LNG will continue to drive new consumption, supported by rising export capacity and strong demand in Europe and Asia,” BMI analysts wrote. 

Gold may add sheen

Gold prices notched a slew of all-time highs last year, and the run of fresh records could extend in 2025.

“Investors are optimistic about gold and silver for 2025 because they are so pessimistic on geopolitics and government debt,” said Adrian Ash, director of research at BullionVault, a gold investment services firm, emphasizing on the yellow metal’s role as a hedge against risk. 

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Gold prices year-on-year

JPMorgan analysts also expect gold prices to rise, especially if U.S. policies become “more disruptive” in the form of increased tariffs, elevated trade tensions and higher risks to economic growth.  

Gold notched its best annual performance in over a decade last year. Bullion prices rose about 26% in 2024, data from FactSet showed, driven by central bank as well as retail investor purchases.

BullionVault and JPMorgan expect gold prices to go up to $3,000 per ounce in 2025.

Silver and platinum likely to advance

Gold’s poorer cousin, silver, could also see prices rise, especially as demand for solar power — silver is used in building solar panels — remains resilient and the metal’s supply stays limited.

“Both silver and platinum have strong underlying deficit fundamentals, and we think a catch up trade later in 2025, once base metals find firmer footing, could be quite potent,” JPMorgan analysts noted. 

Solar power panels near Crawford Notch, New Hampshire. Silver is primarily utilized in industrial applications and is frequently incorporated in the production of automobiles, solar panels, jewelry, and electronics

Adam Jeffery | CNBC

Silver is primarily utilized in industrial applications and is frequently incorporated in the production of automobiles, solar panels, jewelry and electronics. It is also needed in building artificial intelligence products and has military applications as well, said CIO of Swiss Asia Capital’s CIO Juerg Kiener.

That said, silver’s upside will be dependent on global industrial demand which will be impacted by Trump’s tariffs, precious metals trading services group MKS Pamp wrote in an outlook report.

Copper faces demand worries

Prices of copper, which is key to the manufacturing of electric vehicles and power grids, may see a dent after shooting to a record high this year on the back of a global energy transition.

“A potential deceleration in energy transition amid Trump’s policy shifts might dampen, to some extent, the ‘green sentiment’ that bolstered prices in 2024,” BMI wrote in a note.

Close up of electrical engineer inspecting copper windings in electrical engineering factory

Monty Rakusen | Digitalvision | Getty Images

While copper prices rose to a record high in May 2024 largely as a result of a squeezed market, they trended lower for the rest of the year, and will continue to do so, John Gross, president at the eponymous metals management consultancy John Gross and Company, told CNBC.

A cocktail mix of high inflation, elevated interest rates and a stronger dollar will weigh on all metals markets, the metals market veteran said.

Iron ore forecast to drop

Iron ore prices may also slide on the back of an oversupply resulting from Chinese policies and geopolitics. 

“The expected U.S. tariffs on China, changing nature of Chinese stimulus and new low-cost supply [will] push the market into further surplus,” Goldman Sachs said, forecasting prices to decline to $95 per ton in 2025.

This despite China likely to import record amount of iron ore this year, according to Reuters. Iron ore prices fell over 24%, according to data from FactSet.

Cocoa and coffee

Cocoa and coffee prices stand out amongst the soft commodities basket, having scaled record highs in 2024 fueled by adverse weather conditions and supply tightness in key producing regions. But demand may taper in 2025.

“Given that these commodities are trading at levels well above cost of production, we expect production to expand and demand to contract in the coming year,” Rabobank researchers said.

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