individuals are both producers

is known as “prosumption”. In this model, individuals are both producers and consumers (known as “prosumers”) and reap economic benefits from it. The number of energy prosumers in the EU has increased significantly over the past few years This is mainly because technological progress has significantly reduced the cost of renewable technologies. Solar panels, for instance, have become much cheaper, in part because smaller amounts of critical raw materials (CRMs) are needed to produce their batteries. Electric vehicles have also become much cheaper as new battery designs have cut cobalt demand by half over the past five years ufabet