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Recycling impacts of renewable energy generation-related rare earth resources: A SWOT-based strategical analysis

Author

Listed:
  • Zhang, Lei
  • Jiang, Peng
  • Zhang, Yibo
  • Fan, Yee Van
  • Geng, Yong

Abstract

As the global energy mix transforms and renewable energy technologies rapidly develop, there has been a significant increase in the demand for rare earth elements, which play a crucial role in renewable energy systems. By recycling rare earth resources from obsolete equipment, the reliance on newly mined rare earth resources can be reduced, thereby reducing the related environmental and energy footprints and increasing the stability of the supply chain. This study aims to systematically and strategically analyze and discuss the recycling impacts of renewable energy generation (REG)-related rare earth resources in terms of environmental, economic, social, and governance aspects. A SWOT strategical analysis framework integrating a management cycle and intelligent text data mining is built to address the above tasks from an ESG (Environment, Society, and Governance) perspective. The SWOT analysis of the rare earth recycling impacts focuses on strengths (e.g., reduced dependence on rare resources, reduced environmental and emission pressure), weaknesses (e.g., high cost, technology and management complexity), opportunities (e.g., policy support, technological innovations, diversification of the global supply chain), and threats (e.g., market volatility, the emergence of alternative materials). This analysis framework reveals textual topic changes and suggests cyclic and strategical improvement pathways to analyze the multi-dimensional recycling impacts. The text data analysis results indicate that the trend of rare earth recycling is gradually transformed from technologies, supply and demand, and secondary resources into resource and environment sustainable development. Beyond overcoming identified challenges, future pathways should focus more on the integration of advanced emerging technologies, life cycle management, and dynamic adjustment of recycling strategies. This study could provide policymakers and industry practitioners with recommendations and outlook on current development status and improvement strategies to promote REG-related rare earth recycling.

Suggested Citation

  • Zhang, Lei & Jiang, Peng & Zhang, Yibo & Fan, Yee Van & Geng, Yong, 2024. "Recycling impacts of renewable energy generation-related rare earth resources: A SWOT-based strategical analysis," Energy, Elsevier, vol. 312(C).
    • Handle: RePEc:eee:energy:v:312:y:2024:i:c:s0360544224034029
    DOI: 10.1016/j.energy.2024.133624
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