U.S. Natural Gas Loses Ground As Europe Leans On Solar Power

For decades, natural gas has been Europe’s primary source of electricity, meaning natural gas prices have largely determined electricity producer prices. However, following Russia’s invasion of Ukraine, Europe's power utilities have accelerated the build-out of renewable energy, particularly solar, capacity while cutting back on electricity generation from fossil fuels.

Indeed, Europe's utilities generated a record 10.4% of electricity from solar sources in June, more than double solar's share in the continent's energy mix since 2018…