India-led alliance bats for diverse solar energy market
2 years, 2 months ago

India-led alliance bats for diverse solar energy market

Associated Press  

BENGALURU, India — For countries to transition away from fossil fuels and toward cleaner energies like solar power, supply chains for components need to be more geographically diverse, officials said during a conference on solar energy in New Delhi said on Tuesday. Launched by India and France at the 2015 Paris climate conference, the ISA aims to promote the use of solar energy as countries look to reduce their fossil fuel use to curb global warming. “China’s policies have contributed to a cost decline of more than 80%, helping solar photovoltaics become the most affordable electricity generation technology in many parts of the world,” said senior International Energy Agency analyst Heymi Bahar. “To really benefit from the full potential of the job creation possibilities of solar manufacturing, it is important to diversify.” India’s federal minister for power, RK Singh, told the conference on Tuesday that countries have “the responsibility of enabling development in the parts of the world that lack access to energy and energy security.” The Indian federal government recently approved funding to the tune of $2.6 billion for a production-linked incentive scheme that would encourage domestic solar module manufacturing. The solar energy market needs to grow tenfold by the end of the decade if global climate goals are to be met, according to both the ISA and the International Energy Agency.

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