Spurs Global South RENEWABLES UPTAKE
Nations aren’t just focused on oil. They’re securing more reliable, renewable energy supplies to avoid the next disruption. As the International Energy Agency points out, this year’s oil crisis is likely to accelerate the rush for clean tech.
Over the last two months, nations have scrambled to shore up oil supplies as the Iran war prevented oil tankers moving through the Strait of Hormuz.
This, according to some global analysts, would lead to a downturn for clean technology exports from China, the world’s top producer of solar, wind, batteries and electric vehicles. They predicted the rush to secure fuel for cars and trucks combined with China’s manufacturing “oversupply”, “collapsing” prices and trade barriers would trigger a sharp fall in cleantech exports and a slowdown in global deployment.
New data from energy thinktank Ember shows the exact opposite has happened. China’s solar exports doubled in a single month, rising to a new record of 68 gigawatts in March. Fifty countries broke records for imports of Chinese solar panels. Demand was particularly high in countries hardest hit by the oil crunch, such as India and the Philippines. Exports of batteries and EVs also jumped 38% in a month.
Solar is now global
The pain from soaring oil and gas prices is being felt most acutely in developing nations. It should be no surprise many of these countries are moving fastest to seek alternatives.
Demand for solar in many African nations has risen rapidly since 2024. But in March, demand across the continent rose 176% month on month to reach 10 GW, while demand in Asia rose to 39 GW.
The top importers were India (11.3 GW) and Indonesia (6.2 GW), two nations long reliant on coal.
In only a few years, China has come to dominate the mass production of almost all clean technologies across solar (80%), wind (70%), battery cells (80%), battery systems (80%), EVs (70%) and hydrogen electrolysers (58%). In newer industries such as heavy electric trucks, market share is over 90%.
Higher oil prices will only spur on the search for alternatives – just as they did during the first oil shocks over 50 years ago.
This time, though, the oil shock has hit in the midst of the fastest energy transition in human history.
Source: The Conversation, April 28, 2026. https://theconversation.com/is-oil-king-again-chinas…
