June 2026 Update

6/14/26 UPDATE: Iran War Spurs Cleantech

Re: Chapter 3.5.D A RACE AGAINST TIME

Solar electric system installation on the Minneapolis Convention Center. Photo by U.S. DOE, via Flickr.

The Iran war has created economic hardship around the world as supplies of oil, gas, and synthetic fertilizer (made from gas) run short and prices skyrocket. But it also accelerated the transition to renewable energy sources. Countries are increasing their commitment to solar and wind power, battery storage, and electric vehicles in order to diminish dependence on oil and gas. Half the gas shipments that had been passing through the Strait of Hormuz, which was blocked by the war, was headed for Asia, which experienced the worst price shocks.

South Korean president Lee Jae Myung declared the conflict a "great opportunity to rapidly and comprehensively transition to renewables."[1] 

Vietnam, Southeast Asia’s largest electric vehicle market, has targeted 47% renewable electricity generation by 2030.[2] Thailand has advanced its net zero target by 15 full years, to 2050. And in Europe rooftop solar demand has more than doubled since the Iran War began in February.[2]

References

1. Institute for Energy Economics & Financial Analysis. “Impact of Middle East Crisis on Global Energy Markets.” May 2026. https://ieefa.org/impact-middle-east-crisis-global-energy-markets.

2. Kennedy, Danny. “Elite Cognitive Dissonance and the Asian Energy Disruption.” ProElectrica, May 28, 2026. https://proelectrica.substack.com/p/elite-cognitive-dissonance-and-the.