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26-10-2023 | 17:41 PM

International Solar Alliance (ISA)

The Sixth Assembly of the International Solar Alliance is being held in New Delhi.

Key Highlights:

The key reports released during the sixth assembly of the International Solar Alliance are:

• World Solar Technology Report 2023 focuses on solar photovoltaics (solar PV) and specifically highlights advancements in crystalline silicon technology. Solar PV has shown remarkable growth and is projected to capture 56.4% of total renewable energy share by 2050. Crystalline silicon technology dominates the market with a 98% share.
• World Solar Market Report 2023 looks at how the solar power market has changed over time. It started in Europe but now the Asia-Pacific region is leading. The solar market has been growing really fast (37% each year) and expanded a lot in 2022.
• World Solar Investment Report 2023 shows that investment in solar power went up a lot in 2022, to more than $300 billion (a 36% increase from 2021). China, Germany and the USA were the top solar investment destinations. The report recommends that to keep solar power growing, we need to invest in electricity grids and storage, have a variety of supply chains and focus on developing markets.