Latest News

Maguire: China's clean technology exporters are cashing in on the Iran war, which has affected oil and gas flows.

Exporters of solar systems, batteries, electric vehicles, and other clean energy components from China posted record sales in the last month, as the Iran War and the subsequent closure of Strait of Hormuz halted oil and gas supplies?from the Middle East.

Ember's data shows that the combined sales of Chinese clean-energy parts and products in March totalled $26 Billion. This was the highest clean-tech monthly tally recorded by the world's largest battery, EV, and solar panel manufacturer.

The total of'monthly' receipts was up by 30% compared to February, and 52% higher than the same month of 2025. This is due to the earthquake shock caused by the bombings in the Middle East as well as the closure of important shipping lanes.

BATTERY BOOM

Last month, battery systems were China's largest seller of all clean energy components. Sales totaled just over $10 billion.

This compares with average monthly battery exports of $7 billion since 2025. It also marked a significant acceleration in the global order for battery systems for electric vehicles and energy storage by utilities.

Europe was the leading region for Chinese batteries imports. It accounted for 43% of the total or $4.3 billion, followed by Asia which absorbed 29%.

In March, Germany was the largest market for Chinese batteries ($1.26 billion). This was followed by the United States ($823 million), Netherlands ($635 millions), Vietnam ($597million) and Australia ($595million).

Germany registered the biggest monthly increase in battery imports in comparison to February. Import purchases increased by $286 million in March.

Vietnam and Oman both registered monthly increases of more than $200 million in the last month.

SOLAR SPURT

The export of Chinese solar systems jumped the second-highest in March. From $2.1 billion in February, the total jumped to $4.8?billion, the highest monthly total in the last 20 years.

Asia was the most popular destination with a total of?43%, or $1.3 billion, followed by Europe.

The Netherlands ranked as the largest overall importer of solar panels in March. They paid $400 million. This was a nearly $200 million increase over the previous month and compares with a monthly average around $264 millions since 2025.

Last month, India, Indonesia, and the Philippines were the top five buyers of solar systems from China.

EXPORT VOLATILITY OF EV

China's electric vehicle exports have been in turmoil so far in 2026, as changes in subsidy programs in various countries affected consumer demand before the Middle East War disrupted global commerce and consumer confidence. Even so, the total EV sales for the first quarter of 2026 was just over $21 Billion, a record compared to the $12 Billion in the same period of 2025.

Europe was the top destination for Chinese EVs, with 45% of sales in March. Asia followed, with a 25% share.

Belgium was the top exporter of EVs, followed closely by Brazil, Germany, United Kingdom and Australia.

The EV exports to the Middle East in March were marked by a steep drop in sales as air raids brought the goods to a standstill.

In March, China exported 4% of its EVs to the Middle East, but that number will rise to 11% by 2025.

In March, the Middle East saw a sharp decline in the deliveries of grid systems made in China for the same reason. This shows that China's exporters have also suffered from the Iran War.

Those drops in Middle East delivery also point to potential pent up demand once trade flows resume and peace is restored.

This puts Chinese clean-tech exporters in an excellent position to maintain strong global sales, even when Middle-East oil, gas, and fuel flows start to recover.

These are the opinions of the columnist, an author for.

You like this column? Open Interest (ROI) is your new essential source of global financial commentary. Follow ROI on LinkedIn, X and X.

Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets 7 days a weeks.

(source: Reuters)