AP: Energy fallout from Iran war signals a global wake-up call for renewable energy.

It’s a simple equation: more renewables, less shocks. Reporting for the AP, Aniruddha Ghosal, Anton L. Delgado and Allan Olingo write:

The war in Iran is exposing the world’s reliance on fragile fossil fuel routes, lending urgency to calls for hastening the shift to renewable energy.

And

Unlike during previous oil shocks, renewable power is now competitive with fossil fuels in many places. More than 90% of new renewable power projects worldwide in 2024 were cheaper than fossil-fuel alternatives, according to the International Renewable Energy Agency.

It’s obvious, but bears repeating: countries that have built out or invested in renewables have also invested in a cushion from oil shocks, which are a trait of the fossil fuel-based energy system. These include China and India, and other Asian countries, too, including:

Pakistan’s solar boom has preempted more than $12 billion in fossil fuel imports since 2020

And

Vietnam’s current solar generation will help the country save hundreds of millions of dollars in potential coal and gas imports in the coming year, based on current high prices.