Surging gas prices driven by the Iran war are pushing Asian and European nations towards coal, restarting plants and lifting consumption caps. Thailand, Japan, and South Korea are burning more coal as gas supply fears rise, while Italy and Germany have delayed coal phaseouts. This short-term shift benefits coal, but analysts argue the conflict should ultimately accelerate renewable deployment by highlighting energy independence needs. Global renewable capacity has surged 50% since 2022, reaching 5.1TW, outpacing coal's 6% growth.

Falling solar panel prices (down 70% since 2022) and rising consumer interest (e.g., 54% sales jump in UK solar panels) signal renewable momentum. However, challenges persist: grid access, planning delays, and potential populist pushback against green policies could slow progress. The war's economic fallout risks inflating interest rates, complicating renewable financing despite improving project economics.