Iran War Sends Natural Gas Prices Soaring: What It Means for Solar

Natural gas prices in Europe surged roughly 80% after the Iran war disrupted shipping through the Strait of Hormuz, cutting off 20% of the world's oil supply. On this episode of The Clean Power Hour Live, Tim Montague and John Weaver break down how this energy war affects electricity costs, solar economics, and your business as a clean energy professional. They cover solar's fastest growth in a decade, the new SEIA installation report, Virginia's clean energy moves, deep geothermal technology, and a perovskite milestone that signals large-scale manufacturing.

Episode Highlights:
. The Iran war has disrupted oil and gas shipments through the Strait of Hormuz, pushing European natural gas prices up roughly 80%. Diesel prices in the US jumped about 20%. Tim and John discuss how this "energy war" raises electricity costs, increases shipping expenses for solar equipment, and changes forward price curves for commercial solar proposals. (Clean Air Task Force: https://www.catf.us/2026/03/data-driven-look-rising-us-electricity-costs-policy-solutions/)

. John reports in PV Magazine that US solar generation grew at its fastest rate in a decade. Solar now supplies 8.5% of US electricity, driven by 50 GW installed in 2024. (PV Magazine: https://pv-magazine-usa.com/2026/03/12/solars-fastest-growth-in-a-decade-fossils-fall-again-but-emissions-rise/)

. SEIA released its 2025 US solar installation report showing 43 GW deployed, about 15% less than 2024. Q4 2025 was 40% slower than Q4 2024. Tim and John debate the ITC phase-out's ripple effects on financing. (SEIA: https://seia.org/research-resources/solar-market-insight-report-2025-year-in-review/)

. Solar and wind are set to pass nuclear as a share of global electricity generation in 2026. Combined with hydro at 14%, clean sources now supply about 44% of global electricity. (Michael Liebreich: https://bsky.app/profile/mliebreich.bsky.social/post/3mez2hsnvlc2s)

. Virginia's new Democratic governor moved the state back into the Regional Greenhouse Gas Initiative (RGGI), which funds renewable energy certificates worth 3 to 4 cents per kWh. John and Tim discuss the "solar coaster" of policy flip-flops and the growing market for small-scale solar and battery kits. (Politico Pro: https://subscriber.politicopro.com/article/eenews/2026/03/02/democrats-pass-bill-to-return-virginia-to-rggi-00807017)

. Quaise Energy raised $200 million to develop a super-hot geothermal power plant in Oregon. The company uses a gyrotron, a device that fires millimeter waves to melt and vaporize rock instead of crushing it with a drill bit. The 50 MW facility represents a new approach to deep geothermal. (Canary Media: https://www.canarymedia.com/articles/geothermal/quaise-superhot-geothermal-power-plant-oregon)

. Maxwell Equipment achieved 32.5% efficiency in a perovskite/HJT tandem solar cell. John notes that Maxwell builds the machines that manufacture solar panels, so this signals a major manufacturer may soon produce perovskite tandem modules at scale. (PV Tech: https://www.pv-tech.org/maxwell-develops-perovskite-silicon-hjt-cell-32-5-conversion-efficiency/)

If you sell, finance, or develop solar projects, this episode gives you the numbers and context to update your proposals and conversations with clients. Gas prices are climbing again because of a real shooting war. The SEIA data shows where the US market slowed and why. And the ITC phase-out is already tightening timelines for commercial and residential deals. Tim and John connect all of it to your daily work as a clean energy professional.

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