The war between Israel, the United States and Iran could be a silver lining for green energy.

Greg Daco, chief economist at EY-Parthenon has that said whether there is increased interest in clean energy sources depends on the length of the war.

“It is a duration issue,” Mr Daco said at the Bermuda Risk Summit.

“If this conflict lasts for years, and we are in an environment where oil prices are above $100 per barrel for multiple years, then yes, of course,” he said.

Oil prices hit a high of $119 on Monday before falling to around $80 after American President Donald Trump said the war with Iran would end “very soon”. Yesterday it climbed above $100 a barrel again to $101.59.

Iran’s new Supreme Leader, Mojtaba Khamenei has vowed to keep blocking the Strait of Hormuz.

Meanwhile, many green energy stocks have benefited from the trouble with NTPC Green Energy up 11.8 per cent, Solex Energy up 11.9 per cent and KPI Green Energy up around 8.9 per cent yesterday.

Stock news website TradingView saw strong buying interest across the solar equipment and renewable project development space.

Courtney Federico, associate director for international climate policy at the Centre for American Progress, told the website Inside Climate News that the war is another reminder that tying economic security to oil and gas leaves households at the mercy of distant conflicts and volatile global markets.

Meanwhile, British Prime Minister Keir Starmer has promised to “build up clean, British energy like never before”.

However, the New York Times has reported that not only could the war push consumers towards renewable energy sources, it could also cause a return towards coal, at least temporarily.