Price shocks from the Iran war power solar sales in energy-hungry Asia
Price shocks from Iran war power solar sales in energy-hungry Asia
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Soaring costs for fuel due to the Iran war are leading consumers in hard-hit Asia towards rooftop solar power, a likely windfall for China as the world’s largest provider of solar technology. FRANCE 24’s Sharon Gaffney speaks with Maria-Eugenia Sanin, Economics Professor at Université Paris-Est Créteil, about reliance on China for renewables. She says that countries “don’t need to be independent in the whole value chain”.
With fuel prices skyrocketing because of the Iran war, rooftop solar is becoming the only sensible option for households in Asia. But relying on China for panels might just swap one dependency for another.
Professor Sanin makes a good point about not needing full independence in the value chain, but what happens if China decides to restrict exports like it did with rare earths?
My family in the Philippines just installed solar panels last month—the savings are already noticeable. It’s sad it took a war to push us toward renewables, but better late than never.