US$1 trillion plan to build solar energy plants

Solar energy is a way to reduce carbon emissions

At a general assembly of the International Solar Alliance (ISA) the Solar Investment roadmap for 2030 was discussed – the roadmap seeks to build US$1 trillion worth of solar power plants over the next ten years.

The fourth general assembly of the ISA also talked about the potential of having a single global grid for solar power.

The assembly was presided over by Shri R.K. Singh, Minister for Power, New and Renewable Energy, Government of India, and included speeches from US Special Presidential Envoy for Climate, John Kerry, and the European Commission Executive Vice President for the European Green Deal, Frans Timmermans.

“We are working towards mobilising US$1 trillion of investment for a massive deployment of solar energy technologies and for expanding solar markets,” said Dr. Ajay Mathur, Director General of the ISA.

“This would help achieve three different but interlinked objectives: promoting a clean energy transition; enabling energy access and energy security; and delivering a new economic driver for all countries.”

The ISA was formed by India in 2015 to help less developed countries exploit their solar potential.

In his speech John Kerry said that,“Harnessing the full value of solar energy will require countries to invest in storage, in grid infrastructure and in flexibility in both demand and supply.

“To connect solar power with parts of the economy that don’t currently use electricity, countries must invest in electric vehicles and clean fuels like hydrogen that can be produced using solar power.”