Balance of the Rare-Earth Elements Market: Prospects for the Development of Green Energy

The importance of balancing energy sources for domestic and industrial needs has been justified to achieve the Sustainable Development Goals, announced and approved by the United Nations. It has been the key trend of the energy transition, the main tasks and problems of implementing programs to stimulate the development of renewable energy sources in different countries. It was determined that rare earth elements, which are widely used in renewable energy sources and modern consumer electronic devices, are of great importance for the production of carbon-neutral technologies. The demand for rare earth materials has significantly decreased with improved technologies and the transition to greener and more efficient energy sources, particularly in solar and wind energy production. The situation in the rare earth metals market has been studied, and the presence of crisis phenomena and shortages caused by the confrontation between the key producers in the market – the USA and China has been established. The influence of geopolitical processes, the intensification of international competition, and, as a result, the complication of the situation with the satisfaction of the demand for rare earth metals determine the feasibility of further research on the search for mechanisms to achieve equilibrium in this market. The study of this issue is of particular importance from the point of view of ensuring the whole possibility of an ecological energy approach.