📋 Tender Overview
The International Solar Alliance, in a global collaboration with the Ministry of New & Renewable Energy, the Government of India, the Asian Development Bank, and the International Solar Energy Society, organised the third edition of the High-level Conference on New Technologies for Clean Energy Transition. This significant event took place on the sidelines of the Seventh Session of the ISA Assembly in New Delhi today, uniting stakeholders worldwide.The conferences overarching goal is to translate dialogue into action. Deep-dive sessions focusing on new-age solar technologies, emerging storage technologies, and unleashing solars role in accelerating equitable economic, social, and environmental development formed the crux of the discussions.
In his opening remarks, Dr Ajay Mathur, Director General, ISA said, Todays Conference and discussions are very timely. In a week, the world leaders will convene in Azerbaijan under the aegis of COP29 with two guiding goals: agreed to transition away from fossil fuels, triple renewable power and double energy efficiency by 2030. Both of these goals can be built on the foundations of efficient and clean technologies, hence underlining the importance of todays proceedings.
Mr Pralhad Joshi, Honble Minister, New and Renewable Energy, India & President of the ISA Assembly, in his inaugural address, noted, As the President of the International Solar Alliance, I would like to acknowledge that today the world stands united like never before, combining the global efforts towards the energy transition. The significance of advancing solar technology cannot be overstated as we move towards the clean energy transition. With the challenges posed by climate change, our collective efforts to innovate and implement this sustainable solution are more important than ever. He further added, At the International Solar Alliance, we believe that together we can harness the power of the sun to drive the change and create a more sustainable future. I am happy that at a platform like this, important technological advancements are being deliberated. This conference has brought together policymakers, experts, industry leaders, highlighting our global awareness. Our goal is to drive real-world change and make significant progress toward achieving the climate targets through collaboration, innovation and knowledge sharing.
Mr Prashant Kumar Singh, Secretary, Ministry of New and Renewable Energy, Government of India stated, Government of India (GoI) has committed to translating the ISA vision into action. GOI is actively supporting through financial and technical means to assist developing countries in expanding their solar power grids to meet their energy needs. Solar energy has had a visible impact on the Indian energy scenario during the last few years. In addition to large-scale solar power plants, solar energy-based decentralised and distributed applications have benefited millions of people in Indian villages by meeting their energy needs in an environmentally friendly manner. With the increased support of the Government of India policies and improved economics, the solar energy sector has become attractive from an investors perspective.
Ms Mio Oka, Country Director, India Resident Mission, Asian Development Bank, noted, We must ensure that growth is green, and its our ADBs responsibility to facilitate emerging economies access to technologies and finance to attain green growth. The good news is that the cost of clean energy has rapidly declined, and the share of renewable energy has increased. The cost of solar PV has declined by over 80% in the last decade to about $0.05 per kilowatt hour.
Ms Viktoria Martin, President, the International Solar Energy Society, leaving a lead for the discussions to follow during the day said, And I think this is the send-off idea for your discussion today, to think integrated planning in technology, to think about the diverse mix of storage that is needed to connect, for example, electricity generation to the other types of energy services, heating and cooling and transport, that are needed in our green and clean energy systems.
An added attraction at the inaugural was the launch of the third edition of the World Solar Report series. Launched in 2022, the series provides a concise overview of global advancements, challenges, and trends in solar technology, markets, and investments. Key findings from the 2024 edition include:
World Solar Market Report Highlights Unprecedented Growth and Future Projections
The World Solar Market Report highlights a remarkable growth trajectory in the solar power sector.
Rise in Solar Capacity: In just two decades, global solar capacity has exploded from
1.22 GW in 2000 to an astounding 1,418.97 GW in 2023--a staggering 40% annual growth rate. In 2023 alone, 345.83 GW of solar power was added, accounting for three- quarters of all new renewable capacity worldwide. Solar generation has surged similarly, rocketing from 1.03 TWh in 2000 to 1,628.27 TWh in 2023.
Solar Manufacturing to Exceed Demand with Over 1,100 GW by 2024: By the close of 2024, the capacity for global solar manufacturing is projected to exceed 1,100 GW, which is more than twice the anticipated demand for PV panels. Solar cell prices have reached $0.037/watt, while advanced mono TOPCon and mono PERC module prices have fallen below $0.10/watt, indicating a trend towards greater affordability in solar technology.
Solar Industry Employment Boom: The clean energy industry now fuels 16.2 million jobs, with solar leading the charge at 7.1 million--up 44% from 2022s 4.9 million. And a striking 86% of these jobs are concentrated in just ten countries. Future Forecasts: Global solar capacity is set to skyrocket to between 5457 and 7203 GW by 2030, driven by Paris Agreement commitments. This surge underscores the massive infrastructure push needed to meet climate goals.
