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Solar energy has the edge among other renewable energy options and is much more reliable, Power Minister R.K. Singh said on Wednesday. Addressing the 6th assembly of International Solar Alliance (ISA) here, the minister said regulatory structures in terms of generation and transmission of power is required to spur the sector’s growth.
He noted that the rate of growth of renewable energy capacity in the country has been among the highest in the world.
“Our vision is to foster environments conducive to attracting investments and ensuring ample energy availability to meet surging global demands.” Solar energy is capable of being deployed in small sizes, which makes it the best suited for energy access in homes, the minister said.
Talking about the upcoming 6th assembly of ISA, the minister also said that world leaders will converge to expedite the widespread adoption of solar power. “This year, in our capacity during the G20 Presidency, ISA has been advocating decentralised solutions, promoting green hydrogen, and diversification of supply chains.”
Stating that huge investments are on in the solar sector, Ajay Mathur, Director General, ISA said:“Last year it (investments) was $310 billion, this year it is $380 billion. This compares favorably to the highest investment in the electricity generation sector at the height of fossil fuel capacity addition.
Investment in clean energy has seen a 12% annual growth rate since 2020, driven largely by solar and wind power projects,” Mathur said. However, emerging economies only receive a fraction of the resources needed to sustainably meet their energy requirements.
Among other challenges is the concentration of manufacturing in one or two countries which needs to be made more diversified geographically.
The 6th assembly of the ISA will be held from 30th October to 2nd November and will focus on universalization of energy access through solar mini
“Investment in clean energy has seen a 12% annual growth rate since 2020, driven largely by solar and wind power projects,” Mathur said. However, Mathur believes that emerging economies only receive a fraction of the resources needed to sustainably meet their energy requirements.
The objective of the International Solar Alliance that consists of 109 member countries is to facilitate energy transition at the global level, energy security at national level, and energy access at local level, said Bhupinder Singh Bhalla, Secretary, Ministry of New and Renewable Energy.
So far, 96 countries have already registered to participate in the 6th ISA assembly, the government said.
Solar energy has the edge among other renewable energy options and is much more reliable, Power Minister R.K. Singh said on Wednesday. Addressing the 6th assembly of International Solar Alliance (ISA) here, the minister said regulatory structures in terms of generation and transmission of power is required to spur the sector’s growth.
He noted that the rate of growth of renewable energy capacity in the country has been among the highest in the world.
“Our vision is to foster environments conducive to attracting investments and ensuring ample energy availability to meet surging global demands.” Solar energy is capable of being deployed in small sizes, which makes it the best suited for energy access in homes, the minister said.
Talking about the upcoming 6th assembly of ISA, the minister also said that world leaders will converge to expedite the widespread adoption of solar power. “This year, in our capacity during the G20 Presidency, ISA has been advocating decentralised solutions, promoting green hydrogen, and diversification of supply chains.”
Stating that huge investments are on in the solar sector, Ajay Mathur, Director General, ISA said:“Last year it (investments) was $310 billion, this year it is $380 billion. This compares favorably to the highest investment in the electricity generation sector at the height of fossil fuel capacity addition.
Investment in clean energy has seen a 12% annual growth rate since 2020, driven largely by solar and wind power projects,” Mathur said. However, emerging economies only receive a fraction of the resources needed to sustainably meet their energy requirements.
Among other challenges is the concentration of manufacturing in one or two countries which needs to be made more diversified geographically.
The 6th assembly of the ISA will be held from 30th October to 2nd November and will focus on universalization of energy access through solar mini grids, mobilizing finance for accelerated solar deployment, and diversifying supply chains and manufacturing for solar. ISA will also release reports on solar technology, solar market, and solar investments.
“Investment in clean energy has seen a 12% annual growth rate since 2020, driven largely by solar and wind power projects,” Mathur said. However, Mathur believes that emerging economies only receive a fraction of the resources needed to sustainably meet their energy requirements.
The objective of the International Solar Alliance that consists of 109 member countries is to facilitate energy transition at the global level, energy security at national level, and energy access at local level, said Bhupinder Singh Bhalla, Secretary, Ministry of New and Renewable Energy.
So far, 96 countries have already registered to participate in the 6th ISA assembly, the government said.
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