Union Minister of New and Renewable Energy, Shri Pralhad Joshi, addressed the 7th General Assembly of the International Solar Alliance (ISA), emphasizing the potential of solar energy in reshaping the global energy future. He noted the cultural significance of solar energy, tracing its reverence from ancient civilizations to India’s traditions, where the sun has long been celebrated as a source of life and energy. Drawing on these deep-rooted traditions, Joshi called for continued efforts to harness solar energy for a sustainable future.
He shared remarkable growth figures, highlighting that by 2024, global installed solar capacity is expected to reach 2 terawatts, a substantial leap from a decade ago. Solar investments have surged, with funding for solar projects reaching $393 billion in 2023 and anticipated to hit $500 billion by the end of 2024. This investment boom has made solar power one of the most affordable energy sources worldwide, spurring countries like the United States and European nations to achieve impressive capacity milestones.
Praising India’s progress, Joshi pointed to the nation’s 90 GW of installed solar capacity and its ambitious goal of 500 GW of renewable energy by 2030. India has also committed to producing 5 million metric tonnes of green hydrogen by 2030, supported by 125 GW of renewable capacity. With programs like the PM-KUSUM scheme and incentives for solar rooftop installations, India is empowering communities and transforming rural areas by enabling farmers to generate and sell solar power.
Joshi also highlighted India’s role in ISA’s global efforts, with ISA’s successful completion of 21 demonstration projects and the launch of 7 STAR C centers to support solar energy growth. Notable initiatives like the Solar Data Portal and the Global Solar Facility aim to provide real-time data on solar investments and expand commercial financing for solar projects in underserved regions, including Africa. The SolarX Startup Challenge further promotes innovation, and ISA’s outreach efforts, such as the upcoming Solar Hub pavilion at COP29, are designed to foster global participation in solar advancements.
The ISA’s “Towards 1000” strategy was also a focal point, aiming to mobilize $1,000 billion for solar projects, install 1,000 GW of solar energy, and deliver energy access to 1 billion people by 2030. Minister Joshi concluded by encouraging collaboration across governments, private sectors, and civil society to accelerate solar adoption, emphasizing the strength that comes from unity. As President of the ISA, he expressed pride in ISA’s accomplishments and confidence that together they can make solar energy a cornerstone of a cleaner energy future.
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