European Countries Rush to Adopt Renewables as Energy Bills Rise
Fighting involving Iran has created what energy analysts describe as an unprecedented global petroleum crisis, accelerating European government efforts to expand domestic renewable capacity. Middle Eastern warfare blocking the Hormuz passage while damaging regional energy facilities represents the gravest supply security threat in modern history, according to International Energy Agency Executive Director Fatih Birol. Major continental economies recognize clean power offers the surest defense against fossil fuel price swings while advancing carbon reduction commitments. Dependence on foreign petroleum and natural gas has imposed $25.9 billion in unexpected costs on European Union nations beyond normal energy expenditures. Solar generation alone delivers…