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Today's Briefing
Tuesday, Jul 14, 2026

Solar Becomes EU's Largest Power Source in June 2026 Amidst Global Surge and US Offshore Wind Headwinds

  • Solar power achieved a significant milestone in June 2026, providing a record 25% of the European Union's electricity and becoming the bloc's largest single source of electricity, surpassing nuclear, gas, wind, and hydro with an output of 52 terawatt hours (TWh). This marks only the third month solar has held this position in the EU, following June 2025 and May 2026.

  • Globally, renewable electricity generation saw a 9.8% increase in 2024, a notable acceleration from 2023, contributing to renewables accounting for 31.7% of worldwide electricity generation. This growth is mirrored in the United States, where New York is advancing with $13 billion in active and proposed solar projects, aiming for 10 GW by 2030 and already having installed 8 GW.

  • Despite rapid growth, the global energy transition market, projected to reach $3.17 trillion by 2026, faces a critical bottleneck: 1,650 GW of renewable energy capacity is currently stalled in grid connection queues worldwide. Concurrently, the current US administration has actively hindered offshore wind development, striking four agreements totaling over $2.5 billion since March to persuade developers, including Duke Energy, to abandon projects.

  • In a move to diversify renewable sources, Japanese utility JERA Co Inc is investing in US superhot geothermal technology developer Quaise Energy. This partnership aims to support a geothermal power plant in Oregon and explore similar opportunities in Japan, highlighting a focus on less conventional but high-potential clean energy technologies.

The Bottom Line

While solar energy continues its impressive ascent, particularly in the EU and the US, and global renewable capacity expands at an unprecedented rate, significant infrastructure challenges like grid connection backlogs and federal policy headwinds in key markets threaten to slow the pace of the broader energy transition.

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