Global solar additions set for temporary dip: Energy Transition Chartbook: June 2026

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Global solar additions set for temporary dip: Energy Transition Chartbook: June 2026

Equities & Commodities ● Global

30 June 2026

Solar. Evidence of the slowdown in Chinese solar demand is starting to Lithium-battery storage build out has been predominantly focused on shorter-

emerge, with solar installation YTD down c50% following the policy-related duration assets (1-6 hour), which compete in the intra-day market and shift

surge in 1H 2025 (see Renewable growth to stall in 2026? 22 January 2026). power to evening peaks. However, the results from UK’s long-duration storage

Given China accounts for c50% of the global market, it is likely that global auction highlight that lithium-ion storage is becoming increasingly competitive

additions will decline YoY for the first time in two decades. Overall, SolarPower compared to longer-duration assets. In total, lithium-ion projects made up

Europe expects an 8% decline in global additions to 612GW, with global solar nearly 50% awarded capacity, with five assets offering duration of 16-18 hours,

PV growth resuming from 2027 onwards. Global capacity additions are set to comparable to the lower-end of the range for pumped storage assets.

reach 864GW by 2030 – nearly double 2023 installation levels.

Gas markets. After the US and Iran signed a memorandum of understanding

Outside of China, the growth story remains robust. APAC (ex-China) is set to (MoU) on 14 June, the focus has increasingly turned to tracking actual flows

grow 18% YoY – India leads the charge with a strong pipeline of utility-scale going through the Strait of Hormuz, to gauge the speed of any supply recovery.

projects contracted through competitive auctions. MENA is coming off a lower High-frequency flow data show a clear uptick in LNG vessels crossing the strait,