GoKawiilThe case for green energy looks stronger than ever, as the war on Iran continues to highlight the widespread risks of fossil fuel dependency.
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Brent crude, the worldwide benchmark for oil prices, has soared more than 50 per cent since the conflict began in the Middle East, hitting $116 (around €100.92) a barrel in early trading today (30 March).
Much of the volatility has been attributed to the effective closure of the Strait of Hormuz, one of the world’s biggest fossil fuel chokepoints that carries around one-fifth of global oil supplies. That’s around 20 million barrels being blocked every day.
Europe is already feeling the consequences, with the benchmark Dutch TTF natural gas price surging around 70 per cent – putting March 2026 on course to be the highest monthly increase for European gas prices since September 2021.
As rising energy prices threaten to hit struggling Europeans, several nations have witnessed a noticeable shift to green technology.
‘Tired of being held hostage by fossil fuels’
The UK, which has historically had one of Europe’s worst uptakes, has seen heat pump sales in the first three weeks of March increase by 51 per cent compared to the same period the month before – according to energy firm Octopus Energy.
Solar sales have also increased by 54 per cent, as homeowners “supersize” systems with 12 panels instead of the usual 10, while electric vehicle (EV) charger sales have climbed by 20 per cent.
“We’re seeing a massive shift as people stop just asking and start acting. British families are tired of being held hostage by global fossil fuel prices,” says Rebecca Dibb-Simkin of Octopus Energy.
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