The clean tech industry could face potential hurdles in the coming years, as a limited supply of the rare earth metals used to build wind turbines, electric vehicles, solar cells and energy-efficient lighting could raise costs. The substances — dysprosium, terbium, europium, neodymium and yttrium — face potential shortages until 2015, according to a report from the US Department of Energy (DOE), which reiterates concerns identified a year ago.
"While these materials are generally used in low volumes relative to other resources, the anticipated deployment of clean-energy technologies could substantially increase worldwide demand," the report said.
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China Ming Yang Wind Power Group Limited designs, manufactures, sells, and services megawatt-class wind turbines in China. In the late stages of 2011, the company said that rising expenses pushed its third-quarter profit down 42 percent, even though its revenue rose 28 percent. Revenue rose to $298.7 million (RMB1.9 billion) from RMB1.49 billion in the third quarter of 2010. The company attributed the gain to higher wind power project output as it commissioned more turbines.
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