1Q 2019

Renewable Energy in the Mining Industry

Solar PV, Wind, and Battery Energy Storage in Mining Applications: Global Market Analysis and Forecasts

The mining industry is a fundamental instrument of the global economy. It is also notoriously energy intensive. The International Energy Agency (IEA) estimates that approximately 11% of total final energy consumption can be attributed to the mining sector. Such intensity makes power generation decisions even more important. While the industry is predominantly powered by traditional fossil fuels, there has been a notable willingness to incorporate renewables, namely solar PV and wind, into mining operations.

Several renewable projects for mines were commissioned over the last decade. Navigant Research expects this trend to continue as renewable costs decrease and emphasis on decarbonization increases. Significant growth of renewables in mining operations is anticipated, resulting in global capacity nearly tripling through 2027. Growth is expected to be led by Asia Pacific, which is home to some of the world’s largest mining economies such as China, India, and Australia. Latin America will also drive growth as economies like Chile seek to diversify generation sources due to dependence on fuel imports.

This Navigant Research report analyzes the global market for renewable technologies at mining locations. The technologies discussed in this report are solar PV, wind, and battery energy storage. The study provides an analysis of the market issues, opportunities, and implementation challenges associated with integrating renewable technologies into powering mines. Global market forecasts for capacity and revenue, broken out by technology and region, extend through 2027.

Pages 27
Tables | Charts | Figures 28
  • How are renewable technologies being integrated at mines, both on and off-site?
  • How are business models shifting to adapt to the needs of both renewable developers and the mining industry?
  • What are some of the driving factors contributing to greater integration of renewables in mining operations?
  • What are advantages of each technology in the mining sector?
  • How does renewables integration in mines vary by region?
  • Renewable and battery developers
  • Mining companies
  • Energy, environmental, and mining government agencies
  • Microgrid developers
  • Non-governmental agencies
  • Large industrial power producers
  • Investor community

1. Executive Summary

1.1   Mining Industry Overview

1.2   Renewables Integration

1.3   Market Forecasts

2. Market Issues

2.1   Overview

2.2   Mining Industry: Late Adopters

2.3   Drivers

2.3.1   Decreasing Costs

2.3.2   Increased Reliability

2.3.3   Regulatory Conditions

2.4   Barriers

2.4.1   Intermittency

2.4.2   Large Capital Investments and Business Models

2.5   Energy Technologies

2.5.1   Solar PV

2.5.2   Wind

2.5.3   Battery Energy Storage

3. Market Forecasts

3.1   Introduction

3.2   Global Market Forecast

3.3   North America

3.4   Europe

3.4.1   Asia Pacific

3.4.2   Latin America

3.5   Middle East & Africa

3.6   Conclusions and Recommendations

4. Acronym and Abbreviation List

5. Table of Contents

6. Table of Charts and Figures

7. Scope of Study, Sources and Methodology, Notes

  • Annual Capacity of Renewables and Storage at Mining Sites by Region, World Markets: 2018-2027
  • Commissioned Renewable Projects Powering Mines by Region against Global Oil Prices, World Markets: 2007-2018
  • Industrial IoT Average Software and Service Penetration by Sector, World Markets: 2018-2027
  • Annual Capacity and Revenue of Renewable Technology at Mining Sites by Generation Type, World Markets: 2018-2027
  • Annual Capacity and Revenue of Renewable Technology at Mining Sites by Generation Type, North America: 2018-2027
  • Annual Capacity and Revenue of Renewable Technology at Mining Sites by Generation Type, Europe: 2018-2027
  • Annual Capacity and Revenue of Renewable Technology at Mining Sites by Generation Type, Asia Pacific: 2018-2027
  • Annual Capacity and Revenue of Renewable Technology at Mining Sites by Generation Type, Latin America: 2018-2027
  • Annual Capacity and Revenue of Renewable Technology at Mining Sites by Generation Type, Middle East & Africa: 2018-2017

 

  • Commissioned Renewable Projects by Region, World Markets: 2007-2018
  • Industrial IoT Average Device Penetration by Sector, World Markets: 2018-2027
  • Spot Price of Gas and Crude Oil by Market: 2007-2017
  • Annual Capacity of Renewables and Storage at Mining Sites by Region, World Markets: 2018-2027
  • Annual Capacity of Renewables and Storage at Mining Sites by Generation Type, World Markets: 2018-2027
  • Annual Revenue of Renewables and Storage at Mining Sites by Generation Type, World Markets: 2018-2027
  • Annual Capacity of Renewables and Storage at Mining Sites by Generation Type, North America: 2018-2027
  • Annual Revenue of Renewables and Storage at Mining Sites by Generation Type, North America: 2018-2027
  • Annual Capacity of Renewables and Storage at Mining Sites by Generation Type, Europe: 2018-2027
  • Annual Revenue of Renewables and Storage at Mining Sites by Generation Type, Europe: 2018-2027
  • Annual Capacity of Renewables and Generation at Mining Sites by Generation Type, Asia Pacific: 2018-2027
  • Annual Revenue of Renewables and Storage at Mining Sites by Generation Type, Asia Pacific: 2018-2027
  • Annual Capacity of Renewables and Storage at Mining Sites by Generation Type, Latin America: 2018-2027
  • Annual Revenue of Renewables and Storage at Mining Sites by Generation Type, Latin America: 2018-2027
  • Annual Capacity of Renewables and Storage at Mining Sites by Generation Type, Middle East & Africa: 2018-2027
  • Annual Revenue of Renewables and Storage Technology at Mining Sites by Generation Type, Middle East & Africa: 2018-2027
  • Solar PV Analysis
  • Wind Analysis
  • Battery Energy Storage Analysis
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