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Source: The post is based on the article “6th Assembly of International Solar Alliance to be held in New Delhi” published in “PIB” on 19th October 2023
What is the News?
The Sixth Assembly of the International Solar Alliance is being held in New Delhi.
What is the International Solar Alliance(ISA)?
Member Countries: 109
ISA Assembly: It 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 objectives.
The Assembly meets annually at the ministerial level at the ISA’s seat.
The Republic of India holds the office of the President of the ISA Assembly with Government of the French Republic as the co-president.
What are the key reports released during the sixth assembly of the International Solar Alliance?
World Solar Technology Report 2023: The report 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: This report 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: The report 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.
