Pakistan Rises to #2 Solar Importer Amid Grid Failures
Pakistan is now world's #2 solar panel importer. More than India, more than entire Gulf. Almost none of it policy-driven. Grid power is costly & unreliable so households go solar. But does that push grid fees higher for everyone left behind? More soon: https://t.co/In5lBaF2ox https://t.co/0psvHtf1Ve
Clean Energy Investment Now Over Twice Fossil Fuel Spending
NEW @IEA data: clean energy investment is now more than double fossil fuels. $2,155bn vs $1,008bn in 2025. The crossover happened around 2016. Since then the gap has only widened. What was a narrow lead a decade ago is now a >2-to-1...
Europe’s Gas Supply Safe; Worst‑case LNG Spikes to $54.9
NEW RESEARCH: We modelled three Hormuz closure scenarios. Europe never physically runs out of gas in any of them. But under the worst shock, LNG hits $54.9/MMBtu, above the 2022 peak. Full paper here https://t.co/6fJzMRx2i3 https://t.co/wqPJbHbJua
Global BEV Sales Surge to 14 Million in 2025
JUST RELEASED: 14 million battery-electric cars sold globally in 2025 says @IEA China: 8.2m. Europe: 2.9m (28% of new cars). Norway: 97%. US flat at 1.2m. In 2015 the world sold 330,000 BEVs. Ten years later, 14 million. Long-read coming 👇 https://t.co/JlNPoE97Pl https://t.co/jDBldAs9ad
Hormuz Closure Threatens Model Supply and Prices
On 28 February the Strait of Hormuz closed. It is still not fully open. We have a new commentary out this week and model supply and price impacts under three closure scenarios. The results are concerning. Write-up on Bright Spots soon: https://t.co/nBMZPS4HTp https://t.co/iw30Xy5RJe
Solar Eclipses Coal as Pakistan's Top Power Source
Pakistan: solar just overtook coal as the largest single source of electricity. 21% of power from solar in 2025. Up from 2% in 2019. Coal peaked at 20% in 2020. Want to read more about one of the fastest solar transitions? Sign up to...
Wholesale Electricity Prices Follow Gas, Not Renewables.
NEW ANALYSIS: Do renewables make electricity cheaper or more expensive? I pulled together wholesale and retail data across Europe and the US. Wholesale prices track gas exposure, not renewables share. Retail prices barely track either. Full piece👇 https://t.co/kl1w1qFwJR https://t.co/B3qPwnRf1h
Renewable Share Shows Little Impact on Prices
Do US states with more renewables pay more for electricity? No. Do they pay less? Not necessarily. Across all 50 states in 2024, the correlation between renewables share & residential retail price is very weak in either direction. More next newsletter https://t.co/In5lBaF2ox...
Electricity‑gas Price Gap Blocks Europe’s Home Electrification
Electricity-to-gas price ratio: biggest barrier to electrifying European homes. Heat pumps deliver ~3 units of heat per unit of electricity. The maths works in Sweden but not everywhere. Much of gap is policy. More analysis in my forthcoming newsletter https://t.co/In5lBaF2ox https://t.co/lvOin2nN2m
Hydro, Not Wind‑Solar, Drives Low‑Cost Power
"Renewables make electricity expensive" line doesn't survive contact with data. But neither does claim that wind+solar automatically deliver cheap power. Europe: renewables r = -0.51, wind+solar only r = -0.14. Hydro does heavy lifting. Full analysis soon https://t.co/In5lBaF2ox https://t.co/WFQmPbIjqk
Norway's Renewable Success Contrasts Its Fossil Fuel Exports
Norway runs 98% on renewables, leads the world on EVs & is heat pump king. It's also one of the biggest oil & gas exporters on the planet. TRT made a programme on this inspired by my Substack. Can you claim...
Iran Conflict Fuels Surge in European Clean Energy Adoption
A new New York Times piece shows: The Iran war is accelerating something that was already underway: Europeans turn to solar, heat pumps & EVs in large numbers. E.ON reports solar interest in the UK up 63%. Enpal in Germany: inquiries...
Gas Dominates European Power Prices, Driving Higher Costs
Where gas sets prices, prices are higher. r = 0.91 across European electricity markets. Italy & UK: gas sets prices 75-80% of hours, avg €90-115/MWh. Finland: 15% of hours, €42/MWh. More in next newsletter on whether renewables mean lower prices: https://t.co/In5lBaF2ox https://t.co/NWmfk3NfQh
Spain's Power Prices Plummet as Renewables Dom
NEW ANALYSIS: What's going on in Spain? Spain's wholesale electricity price in early 2026: €44/MWh. Italy: €127. Germany: €96. UK: €103. Wind+solar deliver 44% of generation. Gas sets price in just 9% of hours, down from 55% in 2022. Full analysis: https://t.co/ZpDqJ4goY2 https://t.co/nVuNjum8tX
Spain's Power Prices Plunge to Europe's Cheapest
Spain’s power prices have flipped. A decade ago, Spain was a solar cautionary tale & high-cost market. Now among Europe’s cheapest. Gas decline is part of the story, but not the whole picture. More tomorrow: https://t.co/In5lBaF2ox https://t.co/CYOLNd8woh