Is North Korea a Game Changer for Energy-Efficient Lighting? The answer may be yes. Rare earth, a component in LED and fluorescent lights, is a highly sought after commodity. I, Dr. Bulb, discussed rare earth in a previous post when Japan found a large reserve of rare earth metals off the Pacific coast.
Now, there’s a new game changer.
North Korea could hold 216 million tons of rare earths, more than twice the known global despots of rare earth metals, according to a recent geological study. It is estimated that the country’s unexploited mineral deposits are worth trillions.
If the study is verified and the deposits open up, this finding could change the rare earth industry. This, along with Japan’s discovery, has the potential to break China’s near-monopoly on the market.
But what does this mean for lighting? With increased competition, the cost of rare earth metals would decrease significantly. This would also decrease the price of electronics that use rare earths, like LED and fluorescent lights. Hopefully, the lower price of energy-efficient lighting would inspire consumers to make a change!