Also predicts that BEVs will be 90% of NEVs in 2030 — so more than 80% overall market share 👍
“Li's forecast was more specific. He said that by 2030, battery electric vehicles (BEV) will also make up more than 90% of China's NEV market.”
“Tesla and BYD have both smashed their EV sales records in Australia – by a wide margin – in what is shaping up as a landmark month for the electric vehicle transition in Australia, with even the main car lobby acknowledging a ‘permanent structural shift’ to EVs.
BYD on Friday revealed it had sold more than 10,000 EVs in June, the first time any EV maker has reached that level in a single month, just a day after Tesla revealed it had sold a record 8,760 EVs in June.
The result of the two biggest EV companies in Australia propelled the market share of electric vehicles to 23.5 per cent, according to data from the main car lobby group, the Federated Chamber of Automotive Industries.”
The top selling EVs were the Tesla Model Y followers by 6(!) BYD Models:
Tesla Model Y – 8,072
BYD Sealion 7 – 4,730
BYD Atto 2 – 2,482
BYD Atto 1 – 871
BYD Seal – 769
BYD Atto 3 – 677
BYD Dolphin – 645
Australia’s strong EV growth in 2026 continued as EV market share more than doubled from 10.3% in June 2025.
Note: figures are all for full EVs.
Market share v. May 2025
BEVs 42% v 31% (+11%)
PHEVs+EREVs 21% v. 22% (-1%)
All NEVs 63% v. 53% (+10%)
On an absolute basis BEV sales were up slightly, while sales of everything else was down:
BEV +3.9%
PHEV -23.0%
EREV -28.0%
All hybrid (including PHEV+EREV) -24.4%
Conventional ICE -39%
Here we go again.
Despite predictions from many that PHEV emissions would improve the ICCT has found that they have become worse:
“The gap between real-world and official emissions values grew from 265% in 2021 to 400% in 2023, on average across all manufacturers.”
And despite hype from traditional auto manufacturers, the ICCT found that essentially all improvements in vehicle emissions are coming from adoption of full EVs:
“Between 2018 and 2023, official average CO2 values for new cars fell by 28%, while real-world emissions declined by only 15%. Battery electric cars were the primary driver of these emission reductions. Combustion engine car real-world emissions only decreased, on average, by 1% during this period, showing no real-world efficiency improvements.”
Full EV sales in Australia, continuing their rapid climb, hit 20% for the first time in May, more than doubling from 9.2% in May 2025 and a significant jump from 16.4% in April.
Top 10 EVs sold were:
Tesla Model Y – 5,605 sales
Omoda Jaecoo J5 – 2,126 sales
Geely EX5 – 1,814 sales
BYD Sealion 7 – 1,538 sales
Zeekr 7X – 966 sales
Tesla Model 3 – 828 sales
BYD Atto 2 – 778 sales
BYD Atto 1 – 768 sales
BYD Atto 3 – 627 sales
BYD Seal – 581 sales
MG MG4 – 580 sales
Kia EV3 – 531 sales
This is great to see. Especially given huge (and growing) installations of rooftop solar — and now home batteries — Australia is an obvious place for EVs to rapidly take over. Seems like it’s finally starting to happen.
“How wind and solar quietly pushed gas off the margin, and the wholesale price followed.
In the first four months of 2026, the average wholesale electricity price in Spain was €44 per megawatt-hour. In Italy, it was €127. In Germany, €96. In the UK, €103. Spain is now cheaper than France, well below the central-European bloc, and within striking distance of the Nordic hydro-and-nuclear heavyweights that have always topped the cheap-power league.
This is not where most observers expected Spain to be. A decade ago, Spain was a cautionary tale of stranded solar investment and one of Europe’s more expensive power markets. Today it sits near the bottom of the price table, and the gap is widening.
The story behind that ranking is, on its surface, simple. Spain increasingly pushed gas increasingly out of its electricity supply, and the price of electricity followed.
The mix has changed beyond recognition
Twenty-five years ago, a third of Spain’s electricity came from coal. Today, coal is effectively gone. Gas, which surged in the 2000s as the replacement, peaked above 30% of generation in the late 2000s and has since been pushed back to roughly 19%. Nuclear has held steady around 19%, hydro and bioenergy together around 14%, and the remaining capacity has been steadily filled by wind and solar.
Wind alone supplied 20% of Spanish generation in 2025. Solar, which barely existed at scale in the early 2010s, hit 22%. Between them, those two technologies now generate more electricity than any other single category in the system, including the nuclear fleet that was once Spain’s reliable workhorse.
2022 was the turning point
If you stack solar and wind against all fossil generation (gas plus the last embers of coal and oil), the lines crossed in 2022. That was the first year wind plus solar generated more electricity than every fossil source combined. Through the first quarter of 2026, the gap has widened further. Solar and wind delivered 44% of generation, fossil fuels 17%.
This is the structural story that many arguments about energy policy circle around. Spain did not just add renewables on top of a fossil base. It substituted. The fossil curve has been falling, year after year, while the renewable curve has been climbing.
2022 also a turning point for wholesale electricity prices in Spain: The Iberian exception capped electricity prices initially to below EU27 average prices but even after the mechanism ended Spain widened the price gap further.
Why this shows up in the price
In a wholesale electricity market, the price in any given hour is set by the most expensive plant that needs to run to meet demand. For most of Europe, for most of the last decade, that has been a gas plant. The merit-order link from gas prices to power prices is the reason European households got an electricity bill shock when Russian pipeline gas collapsed in 2022.
What has quietly happened in Spain is that gas now sets the price far less often. In 2022, gas was the marginal plant in roughly 55% of all hours. In 2024 it had fallen to 27%. By the first four months of 2026, it was just 9%.”
“How wind and solar quietly pushed gas off the margin, and the wholesale price followed.
In the first four months of 2026, the average wholesale electricity price in Spain was €44 per megawatt-hour. In Italy, it was €127. In Germany, €96. In the UK, €103. Spain is now cheaper than France, well below the central-European bloc, and within striking distance of the Nordic hydro-and-nuclear heavyweights that have always topped the cheap-power league.
This is not where most observers expected Spain to be. A decade ago, Spain was a cautionary tale of stranded solar investment and one of Europe’s more expensive power markets. Today it sits near the bottom of the price table, and the gap is widening.
The story behind that ranking is, on its surface, simple. Spain increasingly pushed gas increasingly out of its electricity supply, and the price of electricity followed.
The mix has changed beyond recognition
Twenty-five years ago, a third of Spain’s electricity came from coal. Today, coal is effectively gone. Gas, which surged in the 2000s as the replacement, peaked above 30% of generation in the late 2000s and has since been pushed back to roughly 19%. Nuclear has held steady around 19%, hydro and bioenergy together around 14%, and the remaining capacity has been steadily filled by wind and solar.
Wind alone supplied 20% of Spanish generation in 2025. Solar, which barely existed at scale in the early 2010s, hit 22%. Between them, those two technologies now generate more electricity than any other single category in the system, including the nuclear fleet that was once Spain’s reliable workhorse.
2022 was the turning point
If you stack solar and wind against all fossil generation (gas plus the last embers of coal and oil), the lines crossed in 2022. That was the first year wind plus solar generated more electricity than every fossil source combined. Through the first quarter of 2026, the gap has widened further. Solar and wind delivered 44% of generation, fossil fuels 17%.
This is the structural story that many arguments about energy policy circle around. Spain did not just add renewables on top of a fossil base. It substituted. The fossil curve has been falling, year after year, while the renewable curve has been climbing.
2022 also a turning point for wholesale electricity prices in Spain: The Iberian exception capped electricity prices initially to below EU27 average prices but even after the mechanism ended Spain widened the price gap further.
Why this shows up in the price
In a wholesale electricity market, the price in any given hour is set by the most expensive plant that needs to run to meet demand. For most of Europe, for most of the last decade, that has been a gas plant. The merit-order link from gas prices to power prices is the reason European households got an electricity bill shock when Russian pipeline gas collapsed in 2022.
What has quietly happened in Spain is that gas now sets the price far less often. In 2022, gas was the marginal plant in roughly 55% of all hours. In 2024 it had fallen to 27%. By the first four months of 2026, it was just 9%.”