Price shocks from the Iran war power solar sales in energy-hungry Asia
The Iran war has triggered a surge in rooftop solar installations across Asia, particularly in the Philippines, as fuel costs spike and energy emergencies worsen. A 70% increase in weekly solar installations and a six-fold jump in inquiries reflect growing demand, while China stands to benefit as the world’s largest supplier of solar technology.
The conflict in Iran has sent fuel prices soaring, prompting a rapid shift toward rooftop solar power in energy-strapped Asia. In the Philippines, a national energy crisis has led to a 70% rise in weekly solar installations and a six-fold increase in customer inquiries since the war began on February 28, according to a survey of 20 local solar companies. The Philippines, heavily reliant on Middle Eastern oil and gas, faces fuel rationing for airlines, cash handouts for public transport workers, and government-mandated energy conservation measures, including a four-day workweek and restricted air conditioning use. The financial strain is severe: oil and gas price spikes in the first 60 days of the war cost Filipino consumers, businesses, and institutions over $600 million, estimates the climate nonprofit 350.org. Jaime Quemado, a Manila resident who recently installed an 18-kilowatt rooftop solar system, called the energy bill shock "significant," adding that fears of power outages drove his decision to adopt solar. The New Energy Nexus survey found inquiries for solar systems jumped from 115 in February to over 450 by mid-April. China is poised to capitalize on the demand surge, with clean technology exports hitting a record high in March, per energy think tank Ember. Chinese solar panel manufacturer LONGi and battery group Dyness are among suppliers seeing increased demand. EcoSolutions, a local installer, reported that the crisis has helped the solar industry gain traction, while the Association of Solar Installers of the Philippines called it a 'game changer' for the country’s nascent sector. Beyond the Philippines, Southeast Asian nations are accelerating solar adoption. Indonesia aims to install 100 gigawatts of rooftop solar by 2034, up from 1.3 gigawatts currently, while Vietnam targets solar for 10% of public offices and homes by 2030. Thailand is exploring policies to incentivize solar users by increasing grid purchases for surplus energy. Analysts attribute these shifts to the energy crisis, with Zero Carbon Analytics noting that policymakers are re-evaluating solar as a cost-saving measure. The crisis has also highlighted solar’s accessibility, with the Department of Energy’s Renewable Energy Management Bureau stating that clean technology is 'scalable and accessible to all.' As fuel costs remain volatile, solar power is emerging as a viable alternative for households and businesses across Asia.
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