- New data reveals that solar and wind power significantly shielded the world from the worst impacts of the energy crisis triggered by the Strait of Hormuz blockade, contradicting a narrative of a 'coal comeback'.
- Global fossil fuel power generation fell by 1% year-on-year in March; outside China, coal-fired power decreased by 3.5% and gas-fired by 4%, while solar and wind generation rose by 15% and 7.6% respectively.
- Global coal imports in March recorded their lowest level in five years, declining by approximately 7.6% year-on-year.
- Analysts attribute this trend to the substantial increase in global clean energy capacity since 2022, which absorbed the decline in gas-fired power generation following the blockade.
- The structural shift towards clean energy makes new fossil fuel investments unattractive, as accelerated clean energy deployment is expected to significantly reduce fossil fuel demand.
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