Leaders from 116 Countries to attend the 6th Assembly of International Solar Alliance in New Delhi

New Delhi: The International Solar Alliance's Sixth Assembly will be held in New Delhi, India, from October 30 to November 2, and will be presided over by R.K. Singh, the Hon'ble Minister for Power, New, and Renewable Energy. It will include ministers, missions, delegates, and representatives from 116 Member and Signatory Countries, prospective countries, partner organizations, the private sector, and other stakeholders. In this regard, the International Solar Alliance Assembly organized a curtain-raiser for the upcoming event on Wednesday.

At the event, R.K. Singh, Minister of Power, New and Renewable Energy, Government of India, and President of the International Solar Alliance (ISA), stated that the ISA is committed to member countries by providing extensive programmatic support, capacity-building initiatives, insightful analytics, and robust regulatory understanding. Our objective is to create ecosystems that encourage investment while also ensuring adequate energy supply to satisfy rising global demand.The 6th Assembly of the International Solar Alliance (ISA) will bring together international leaders to accelerate the use of solar power. During the G20 presidency, ISA has stood for decentralized solutions, green hydrogen, and supply chain diversification. Positive changes in social indices such as employment, livelihoods, climate change mitigation, biodiversity preservation, forestry, and gender equality are being driven by this activity. In this critical decade of climate action, more collaboration will boost investment possibilities and create millions of green jobs.

Singh further said, We believe that the international solar alliance has a seminal role to play in the energy transition for a number of reasons, including the fact that it is focused only on renewables and solar. India has experienced significant growth in renewable energy capacity, with solar energy being the most reliable and available for more months in a year. Singh emphasized that solar energy is the solution for universal energy access, as it is more reliable and available for more months in a year.

The International Solar Alliance's Director General, Dr. Ajay Mathur, stressed the importance of solar energy in meeting the COP28 Presidency's aim of quadrupling renewable capacity by 2030. To achieve this, a significant increase in renewable energy investment, doubling present levels by 2030, is required. Encouragingly, investment in renewable energy has increased at a solid 12% annual pace since 2020, mostly due to solar and wind power projects. However, the surge in investment is mostly focused on a few nations, leaving many emerging economies, notably in Africa, behind. Emerging economies receive just a fraction of the resources required to satisfy their energy demands responsibly. By collaborating with international financial organizations, development institutions, and national governments, investment and financial support can be enhanced.

A more secure energy future hinges on astute investment decisions and robust leadership from both governments and businesses. Since its inception, the ISA has bolstered its ability to convene member countries, implement programs, pilot initiatives, and introduce innovative financial mechanisms. Through its endeavors, culminating in the annual Assembly, the ISA has demonstrated that partnerships and coalitions are indispensable for addressing the climate challenge. Synergistic actions amplify the impact of individual efforts, and solar energy stands as a catalyst for both development and climate action.”

Bhupinder Singh Bhalla (IAS), Secretary, Ministry of New and Renewable Energy, Government of India stated at the event, that International solar alliances objective is to facilitate energy transition at the global level, energy security at National level and energy excess at local level. India family believes that these objectives will ensure access to affordable reliable sustainable and modern energy for all. ISA is well suited to bring these changes in its member countries through policies and programs. India remains steadfast in its commitment to the expansion and strengthening of the ISA as we continue to collaborate, learn and grow along with other ISA member countries. We continue to work together in the spirit of ‘Vasudhaiva Kutumbakam’ to achieve a greener and more sustainable future.”

The Assembly is the apex decision-making body of ISA, in which each Member Country is represented. This body makes decisions concerning the implementation of the ISA’s Framework Agreement and coordinated actions to be taken to achieve its objective. The Assembly meets annually at the ministerial level at the ISA’s seat. It assesses the aggregate effect of the programmes and other activities in terms of deployment of solar energy, performance, reliability, cost and scale of finance. 109 countries are signatories to the ISA Framework Agreement, of which 90 countries have submitted the necessary instruments of ratification to become full members of the ISA. The Republic of India holds the office of the President of the ISA Assembly, with the Government of the French Republic as the co-president.

The Sixth Assembly of the ISA will discuss initiatives affecting energy access, security, and transitions, including universalizing solar mini-grids, mobilizing finance for accelerated solar deployment, and diversifying supply chains and manufacturing for solar.

In addition, on November 1, 2023, the ISA Secretariat will host a high-level conference on New Technologies for Clean Energy Transition in collaboration with the Ministry of New and Renewable Energy, the Indian Government, the Asian Development Bank, and the International Solar Energy Society, focusing on various issues related to climate change and solar energy deployment. ISA will also release three flagship reports on solar technology, solar markets, and solar investments.

The World Solar Technology Report 2023 focuses on solar photovoltaics (solar PV), highlighting the remarkable advancements in crystalline silicon technology. Solar PV has experienced exceptional growth and is expected to capture 56.4% of the total renewable energy share by 2050. Crystalline silicon technology dominates the market with a 98% share, particularly monocrystalline, and emerging technologies like organic PV and perovskite PV hold promise for the future.

The World Solar Market Report 2023 offers a comprehensive analysis of the solar market's evolution from its European origins to its current leadership in the Asia-Pacific region, highlighting a remarkable 37% compound annual growth rate, significant market expansion in 2022, and changing regional dynamics in solar adoption.

The World Solar Investment Report 2023 highlights the surge in global solar investments in 2022, exceeding $300 billion (a 36% increase from 2021). Asia Pacific and Europe and North America led the way, with China, Germany, and the USA as top investment destinations. To ensure a robust solar future, we must invest in grid infrastructure and storage, diversify supply chains, and prioritize emerging markets for an inclusive energy transition toward Net Zero by 2050.