3rd World Solar Report Launched at 7th ISA Assembly
| Summary/Static | Details |
|---|---|
| Why in the news? | 3rd Edition of World Solar Report Series launched at the 7th Assembly of the International Solar Alliance (ISA). |
| Released By | Pralhad Joshi, President of ISA Assembly and India's Minister for New and Renewable Energy. |
| Reports | 1. World Solar Market Report 2. World Investment Report 3. World Technology Report 4. Green Hydrogen Readiness Assessment for African Countries |
| Overview of World Solar Report Series | First introduced in 2022, provides an overview of global solar progress, investment trends, challenges, and technological advancements. |
| High-Level Conference | Held alongside the 7th ISA Assembly. Co-organized with India's Ministry of New & Renewable Energy, the Asian Development Bank, and the International Solar Energy Society. |
| Conference Objectives | Drive actionable change in solar technology and policy for a clean energy transition. Focus on emerging technologies, storage, and the role of solar in socio-economic development. |
| About ISA | - Founded: December 6, 2017, headquartered in India. - Mission: $1 trillion solar investment by 2030, promoting affordable solar. - Partnerships: MDBs, DFIs, private/public sector collaborations to aid LDCs and SIDS. - Initiatives: Policy support, investment mobilization, cost reduction, training, and data access for stakeholders. |
| Key Figures | - Global Solar Capacity: 1.22 GW in 2000 to 1,418.97 GW in 2023. |
- Solar Power Additions in 2023: 345.83 GW.
- Solar Manufacturing Capacity by 2024: over 1,100 GW.
- Solar Industry Jobs in 2023: 7.1 million.
- Global Energy Investment (2024): $3.1 trillion, up from $2.4 trillion in 2018.
- Solar Investment Dominance: 59% of total renewable energy investments ($393 billion).
- APAC Solar Investments in 2023: $223 billion.
- Solar PV Efficiency: 24.9% (Monocrystalline modules).
- LCOE for Utility-Scale Solar PV (2023): $0.044/kWh (down 90% from 2010). |