May 4, 2023
HOW IS MOLYBDENUM USED IN SOLAR PANELS
In the past decade, global demand for eco-friendly solar panels has surged, as the cost of solar energy has declined, and the need for renewable energy sources has grown. This has led to an increase in the use of molybdenum, a high-tech material that is stable, durable, and can convert sunlight into usable electricity, making it ideal for solar panels.
By using molybdenum metal in solar panels, more energy can be generated, allowing for more efficient and cost-effective solar energy production.
According to this expert market research report, the “global molybdenum market is projected to grow at a compounded annual growth rate (CAGR) of 4% up to 2026.”
Currently, the significant end uses in the market are oil and gas, automotive, industrial usage, building and construction, and aerospace. However, we believe molybdenum will become a significant metal for use in renewable energy.
In this article, we explore the increasing demand for eco-friendly solar panels and the benefits of using molybdenum metal in the production of renewable energy.
What Is Molybdenum?
Molybdenum is an essential metal that is widely used in industrial operations because of its high melting point, superb electrical and thermal conductivity, and excellent corrosion resistance.
It can be derived from molybdenite, a mineral that is commonly found in porphyry copper, lead-zinc, and sedimentary phosphate ores.
This metal is particularly well-suited for producing solar panels due to its high resistance to corrosion, oxidation, and heat.
Its superior properties make it an ideal choice for a variety of industrial applications, from electrical components to construction materials. In addition, molybdenum is a vital component in the creation of certain chemical compounds and alloys.
Benefits of Using Molybdenum in Solar Panels
Molybdenum is a versatile and eco-friendly metal with a range of applications in the renewable energy industry.
Its unique ability to efficiently store and conduct heat and electricity makes it the ideal material for photovoltaic cells. By harnessing the power of the sun, molybdenum-based solar panels generate clean electricity with no harmful greenhouse gas emissions.
In addition to its environmental benefits, molybdenum is a cost-effective solution for solar energy production. Its durability ensures that molybdenum-based solar panels are a lasting and powerful energy source. With its many advantages, molybdenum is an excellent choice for solar panel construction and maintenance.
How Molybdenum Is Used in Solar Panels
Solar panels are constructed using either thin film or thick film technology, both of which have key advantages. Although thin film has a lower conversion efficiency, the manufacturing process is simpler, and the cost is lower. Furthermore, the flexible design of these panels makes them an attractive option.
Molybdenum plays a vital role in the development of thin film technology, acting as the sole metal in the back electrode of the panel.
This layer, which typically measures between 500 and 1000 nanometers, increases the efficiency of the panel by up to 2%. Additionally, the production and use of molybdenum are eco-friendly and do not generate any harmful emissions.
Why Investing in Molybdenum Is a Smart Move
According to McKinsey Insights, many of the raw materials needed to manufacture solar panels and wind turbines are projected to be in short supply. However, Northcliff is working to provide Canada with a reliable supply of molybdenum.
Molybdenum is a valuable and versatile resource, and its role in many industries is expected to grow. This has resulted in many countries investing in molybdenum production, with China being one of the most prominent. Increased global demand for molybdenum could drive prices upward in the coming years.
In addition to its industrial applications, molybdenum is a sustainable resource that can be recycled and reused. This makes it well-suited for a variety of purposes, and its continual availability ensures that it will remain an essential metal in the foreseeable future.
Northcliff Resources holds an 88.5% controlling interest in the Sisson Tungsten-Molybdenum Project in New Brunswick, Canada. As the world continues its push towards securing the necessary minerals and metals to power innovation, the Northcliff Sisson Project has the potential to become a near-term critical metal producer, providing a new primary supply of tungsten and molybdenum to North American, European, and Asian markets.
With its unique properties and numerous applications, molybdenum is a critical metal for the production of renewable energy. Northcliff Resources is working to lead the charge in molybdenum mining and is dedicated to sustainable and responsible practices in the industry.
Northcliff is a mineral resource company focused on advancing the feasibility-stage Sisson tungsten-molybdenum project located in New Brunswick, Canada, to production. Additional information on Northcliff is available on the website at www.northcliffresources.com