How Fossil Fuel Disruptions Lead to Booms in Solar and Batteries (Correct)

The war in the Middle East has roiled oil and gas markets. Under a severe scenario, with more strikes on energy infrastructure, Bloomberg Economics estimates that crude could reach $108 a barrel, adding a significant boost to inflation and even pushing some European economies to the brink of recession.

These price shocks will have global impacts. When such spikes occurred in the last century, there was little choice for import-dependent countries but to pay a premium or burn less fuel. This century, however, falling prices of solar and batteries offer another option.

“When a technology becomes cost competitive, you get to a tipping point on adoption,” ...