South China Sea brims with rare earth and renewable power promise - Nikkei Asia
South China Sea brims with rare earth and renewable power promise - Nikkei Asia
HO CHI MINH CITY -- Countries have tussled over the potential profits to be had by fishing and drilling for oil in the South China Sea, but a newer industry is emerging in the disputed waters: clean technology.
Renewable energy and rare earths represent untapped business opportunities in the sea, according to analysts who say countries must get out in front of possible clashes to share the resources. Chinese companies have installed wind farms in the South China Sea and are exploring for metals vital to electric cars, solar panels and other green-transition products.
Related Knowledge Center: ENERGY BASICS: hydropower
Hydropower — electricity generated by turbines capturing energy from moving water — was for many years the primary contributor of renewable energy to the U.S. electricity grid. Its growth was rapid into the 1970s, and since then has offered a stable supply of power, while a declining share of all generation. For many years, hydropower was seen as clean energy and an unalloyed good, but a greater understanding of the impact of dams on ecosystems and wildlife has led to the removal of some dams. As of 2019, hydropower trails wind as a renewable source of power generation.