Global lithium demand surge for energy storage

The International Energy Agency warned that lithium demand could exceed 40 times its 2020 level by 2040 as the world seeks to store intermittent solar power. The first snapshot highlighted the technical push for high‑efficiency thermophotovoltaic devices and the shift in France’s residential solar market after regulatory changes reduced feed‑in tariffs, underscoring policy and supply‑chain challenges.

A day later the focus turned to the supply side, with the second snapshot detailing Australia’s position as the leading lithium producer. Strong investor sentiment was evident on the Australian Securities Exchange, with mining companies such as Patagonia Lithium and the upcoming IPO of Whiterock Lithium’s Banana project driving market optimism. Prices for spodumene and lithium carbonate remained above recent lows, and analysts projected steady growth and a price plateau around US$30 kg⁻¹ through 2027‑2028.

Together, the snapshots trace a narrative of rapidly expanding global lithium demand driven by energy‑storage needs, moving from broad demand projections and European policy impacts to concrete market activity and investment trends in Australia.