The Iran war has the world buying more clean energy. China stands to benefit the most
The war in Iran has accelerated the adoption of clean energy worldwide, with China's exports of solar technology, batteries, and electric vehicles reaching record highs in March. China's dominance in renewable technology is expected to benefit from the global shift towards clean energy.
The war in Iran has led to a surge in clean energy adoption globally. China's exports of solar technology, batteries, and electric vehicles reached record highs in March, according to Ember. The Iranian military's blockade of the Strait of Hormuz cut off about one-fifth of global oil and natural gas supply, prompting countries to seek energy alternatives. China's solar technology exports reached 68 gigawatts in March, surpassing the previous record by 50%. The country's battery exports reached $10 billion in March, with high growth rates in the European Union, Australia, and India. As countries invest in renewable energy, China is poised to benefit from its dominance in the sector.
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