International Solar Alliance (ISA) Hosts Seventh Session of its Annual Assembly | Current Affairs | Vision IAS
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International Solar Alliance (ISA) Hosts Seventh Session of its Annual Assembly

Posted 06 Nov 2024

2 min read

Key outcomes of 7th Assembly of ISA

  • India has been re-elected as President of ISA from 2024 to 2026, with France as Vice-President.
  • 3rd edition of World Solar Report series was released which consists 4 reports.

Major Findings of 4 Reports

  • World Solar Market Report 2024
    • Global Solar Capacity: Increased from 1.22 GW in 2000 to ~1,419 GW in 2023.
    • Manufacturing to Exceed Demand: Solar manufacturing set to exceed 1,100 GW by 2024 (more than double demand) with significant reduction in prices of solar panels.
    • Solar Jobs: 16.2 million clean energy jobs worldwide, with 7.1 million in solar alone (44% increase from 2022).
  • World Investment Report 2024
    • Energy Investment: Global energy investments rising from $2.4 trillion in 2018 to $3.1 trillion in 2024.
    • Solar Investment Surge: Solar accounts for 59% of renewable energy investments.
  • World Technology Report 2024
    • Technological Breakthroughs: Multijunction perovskite cells emerging as disruptive technology.
    • Cost Reduction in Solar: Utility-scale solar PV costs dropped by 90% since 2010.
  • GH2 Readiness Assessment for African Countries Report highlights GH2 potential to decarbonise industries heavily reliant on fossil fuels like steel and fertilizer production.

About ISA

  • A global intergovernmental organization (headquartered in India) dedicated to advancing solar power adoption for a carbon-neutral future.
  • Conceptualized on the side lines of COP21 in Paris in 2015.
  • Comprises 103 Member Countries and 17 Signatories Countries. 
  • ISA Assembly is apex decision-making body, representing each Member Country and makes decisions regarding implementation of ISA’s Framework Agreement.
  • Tags :
  • Renewable Energy
  • International Solar Alliance (ISA)
  • World Solar Market Report 2024
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