Solar Growth, Energy Independence & Battery Materials
Solar is scaling faster than any other power source, countries are reshaping their electricity systems, and battery supply chains continue to evolve rapidly. From Spain’s fossil fuel decline and the rise of 24/7 solar-plus-storage to global battery material expansion and energy import dependence, this week’s stories highlight the changing foundations of the energy system.
☀️ Solar Became the Largest Source of New Electricity
Solar generated an additional 636 TWh of electricity in 2025, making it the world’s largest source of new power generation. The increase was 18 times larger than gas, the only fossil fuel source that grew during the year.
⚡ Spain’s Power System Has Transformed
Spain’s electricity mix has shifted dramatically over the past two decades. In 2000, fossil fuels supplied 56% of electricity while solar and wind accounted for just 2%. By 2026, solar and wind reached 44%, while fossil fuels fell to 17%, reducing the role of gas in setting power prices.
🔋 24/7 Solar Plus Storage Is Becoming Cost Competitive
Round-the-clock solar paired with battery storage is already reaching competitive costs in several markets. China has achieved prices near $30/MWh, while Brazil and Oman are below $70/MWh. More countries are expected to approach these levels before 2030, undercutting new coal and gas generation.
🛢️ Countries Remain Heavily Reliant on Middle East Energy
New analysis comparing oil and gas import dependence shows how exposed many countries remain to Middle Eastern energy supplies. The data highlights major differences in both import volumes and how dependent economies are relative to their domestic energy needs.
🔋 Battery Material Production Is Rapidly Expanding
Production of battery materials has accelerated sharply since 2020, led by lithium, which has quadrupled in output. At the same time, the growing shift toward LFP batteries is changing demand patterns across the supply chain, increasing the importance of materials like phosphorus.