The 7th Session of the International Solar Alliance (ISA) was conducted from 3rd to 6th November 2024 in Bharat Mandapam, New Delhi with ministers from 29 countries.
- Ministers, mission heads, and delegates from 120 Member and Signatory Countries (103 Member and 17 Signatory Countries), along with partner organizations and stakeholders, participated in the event.
- The aim of the event was to enhance solar energy deployment across its Member Countries, particularly in regions with limited energy access.
Ashish Khanna elected as new Director General of International Solar Alliance
i.In its 7th Assembly session, ISA elected Ashish Khanna from the Republic of India as its 3rd Director General.
- He will succeed the current DG, Ajay Mathur, who joined in 2021 and his term concludes in March 2025.
ii.Ashish Khanna has over 26 years of experience in energy sector development across private and public sectors in more than 15 developing countries across South Asia, West Asia, North Africa and Sub-Saharan Africa.
- In his current role as the head of the World Bank’s West and Central Africa program, he is leading Mission 300 for energy access to 300 million people in Africa by 2030.
- He has also worked as the programme leader in the Middle East and North Africa (MENA) region, leading a programme which enabled private sector investment of USD 20 billion in the energy sector for the first time in Egypt.
iii.Moroever, he also worked with the ministry of new & renewable energy on policy and regulatory reforms as the Lead Energy Specialist at the World Bank.
India and France Retain the Presidency and Co-Presidency of the ISA Assembly
i.The 7th session of the ISA Assembly in progress in New Delhi, Delhi, has elected India as President and France as co-president for a period of two years from 2024 to 2026.
- While India was the sole competitor for the post of President, the Co-Presidency was held between the Republic of France and Grenada.
ii.The Assembly elects the president co-president with due consideration to equitable geographical representation. The 4 regional groups of the ISA Members include Africa; Asia and the Pacific; Europe and Others; and Latin America and the Caribbean.
iii.8 vice presidents of the standing committee, two from each of the four ISA geographical regions, were selected based on seniority in the specific region.
- Ghana and Seychelles will hold office as vice presidents for the Africa region; Australia and Sri Lanka for Asia and the Pacific region; Germany and Italy for Europe and the others region; Grenada and Suriname from the Latin America and the Caribbean region.
ISA releases World Solar Report series
The 3rd edition of the World Solar Report series was released at the 7th Assembly of the International Solar Alliance which focused on global solar growth, investment trends, technological advancements, and Africa’s green hydrogen potential.
- The newly launched 4 reports in the series were- World Solar Market Report, World Investment Report, World Technology Report, and Green Hydrogen Readiness Assessment for African Countries each highlight a crucial area in the global shift towards sustainable energy.
- The World Solar report series was released by President of the ISA Assembly and India’s Minister for New and Renewable Energy, Pralhad Joshi.
- The report was first introduced in 2022 and provides comprehensive overview of global progress in solar technology, key challenges, and investment trends in the sector.
i.Details of World Solar Market Report:
- Rise in Solar Capacity-The global solar capacity has increased from 1.22 Gigawatt (GW) in 2000 to 1,418.97 GW in 2023 recording a 40% annual growth rate. In 2023, 345.83 GW of solar power was added while solar generation has increased from 1.03 Terawatt hours (TWh) in 2000 to 1,628.27 TWh in 2023.
- Solar Manufacturing to Exceed Demand with Over 1,100 GW by 2024– The global solar manufacturing capacity is estimated to cross 1,100 GW by 2024, which is more than twice the anticipated demand for PV panels. Solar cell prices have reached USD 0.037/watt, while advanced mono TOPCon and mono PERC module prices have decreased below USD 0.10/watt leading to greater affordability in solar technology.
As of 2023, China holds 43% (609 GW) of the cumulative capacity globally and is the world’s leading solar energy producer. The United States was the next biggest country contributing 10% (137.73 GW). Japan, Germany, and India each captured between 5-6% share.
- Solar Industry Employment Boom– The clean energy industry consists of 16.2 million jobs, with solar solely having 7.1 million. 86% of these jobs are concentrated in just ten countries.
- Future Forecasts– Global solar capacity is expected to reach to between 5457 and 7203 GW by 2030, driven by Paris Agreement commitments.
ii.World Investment Report
- Exponential Growth in Energy Investments– Global energy investments are estimated to rise from USD 2.4 trillion in 2018 to USD 3.1 trillion in 2024. Global clean energy investment will be twice than that of fossil fuels, increasing from USD 1.2 trillion in 2018 to USD 2 trillion by 2024.
- The Solar Investment Rise– Investments in solar represented around 59% (USD 393 billion) of all Renewable Energy (RE) investments (USD 673 billion), due to decrease in solar panel costs.
- APAC leads global solar investments– Asia–Pacific (APAC) region is leading in terms of solar investments with USD 223 billion into solar in 2023. Europe, the Middle East and Africa (EMEA) has recorded modest solar investment growth, with USD 91 billion in 2023, followed by North, Central, and South America (AMER) region with solar investments of USD 78 billion.
iii.World Technology Report
- Record-Breaking Solar PV Panel Efficiency – Solar PV monocrystalline modules have reached 24.9% efficiency contributing to maximizing solar energy potential. Multijunction perovskite cells will enhance efficiency, lower production costs, and seamless integration with diverse surfaces lowering demand for traditional silicon panels.
- Solar Manufacturing Now Uses 88% Less Silicon per Watt Peak than in 2004- The manufacturing process has shown a reduction in silicon usage- from consuming 16 gram(gm)/watt peak (Wp) in 2004 to 2 gm/Wp in 2023.
- Utility-Scale PV Costs Hitting New Low– The global weighted average levelized cost of electricity (LCOE) for utility-scale Solar Photovoltaic (PV) decreased by 90 from USD 0.460/kWh (Kilowatt-hour) in 2010 to USD 0.044/kWh in 2023. At country level, the drop ranges from 76%-93% over the same period.
iv.Readiness Assessment of Green Hydrogen in African Countries’ report by ISA and Denmark:
- This report highlights green hydrogen’s potential to decarbonize industries heavily dependence on fossil fuels, such as steel and fertilizer production.
- Green hydrogen produced via renewable-powered electrolysis, offers a crucial alternative to coal, oil, and gas, supporting Africa’s transition to cleaner energy.
About International Solar Alliance (ISA):
The ISA is a collaborative initiative between India and France aimed at combined efforts to combat climate change by implementing solar energy solutions.
It was founded on the side lines of COP21 in Paris in 2015.
Its mission is to reach USD 1 trillion in solar investments by 2030 while reducing technology and financing costs.
Director General– Ashish Khanna
Headquarters – Gurugram, Haryana
Signatories– 120 countries
