{"id":31790,"date":"2024-11-06T18:30:14","date_gmt":"2024-11-06T13:00:14","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=31790"},"modified":"2024-11-06T18:30:15","modified_gmt":"2024-11-06T13:00:15","slug":"world-solar-report-series","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/06-11-2024\/world-solar-report-series","title":{"rendered":"World Solar Report Series"},"content":{"rendered":"\n<p><strong>Syllabus: GS3\/Energy<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Context<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The 3rd edition of the World Solar Report series was released at the 7<strong>th Assembly of the International Solar Alliance.<\/strong><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>About<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>The newly launched 4 reports namely<\/strong> World Solar Market Report, World Investment Report, World Technology Report, and Green Hydrogen Readiness Assessment for African Countries each highlight a <strong>crucial area in the global shift towards sustainable energy.<\/strong><\/li>\n\n\n\n<li><strong>First introduced in 2022<\/strong>, this series provides a comprehensive overview of global progress in solar technology, key challenges, and investment trends in the sector.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key Highlights<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>World Solar Market Report<\/strong>\n<ul class=\"wp-block-list\">\n<li><strong>Rise in Solar Capacity:<\/strong> Global solar capacity has increased from 1.22 GW in 2000 to 1,418.97 GW in 2023\u2014a 40% annual growth rate.\u00a0<\/li>\n\n\n\n<li><strong>Solar Industry Employment Boom: <\/strong>It provides 16.2 million jobs, with solar leading with 7.1 million\u2014up 44%, and 86%.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>World Investment Report<\/strong>\n<ul class=\"wp-block-list\">\n<li><strong>Exponential Growth in Energy Investments: <\/strong>Global energy investments are set to soar from $2.4 trillion in 2018 to $3.1 trillion in 2024\u2014a steady climb at nearly 5% annually.\u00a0<\/li>\n\n\n\n<li><strong>APAC leads global solar investments:<\/strong> APAC is at the forefront of solar investments pouring USD 223 billion into solar in 2023.\u00a0<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>World Technology Report\u00a0<\/strong>\n<ul class=\"wp-block-list\">\n<li>It include record-setting 24.9% efficiency in solar PV modules, an 88% reduction in silicon usage since 2004, and a 90% drop in utility-scale solar PV costs, fostering resilient, cost-effective energy solutions.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Readiness Assessment of Green Hydrogen in African Countries\u2019<\/strong><strong>report<\/strong>\n<ul class=\"wp-block-list\">\n<li>Green hydrogen offers a viable alternative to coal, oil, and gas, supporting Africa\u2019s transition to cleaner energy.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>About the International Solar Alliance<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>It is an international organisation with <strong>120 Member and Signatory countries.\u00a0<\/strong><\/li>\n\n\n\n<li><strong>Established: <\/strong>By Prime Minister Narendra Modi and President of France Francois Hollande in 2015.<\/li>\n\n\n\n<li><strong>Headquarter:<\/strong> First international intergovernmental organisation to be headquartered in India.\u00a0<\/li>\n\n\n\n<li><strong>Mission: <\/strong>To unlock US$1 trillion of investments in solar by 2030.\n<ul class=\"wp-block-list\">\n<li>Reducing the cost of the technology and its financing.\u00a0<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>India\u2019s Renewable Energy Capacity<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>India&#8217;s total electricity generation capacity<\/strong> has reached <strong>452.69 GW<\/strong>.\u00a0<\/li>\n\n\n\n<li>Having the <strong>8,180 MW (megawatt) of nuclear capacity<\/strong>, the <strong>total non-fossil fuel-based power<\/strong> now accounts for<strong> almost half <\/strong>of the country&#8217;s installed electricity generation capacity.\u00a0<\/li>\n\n\n\n<li>As of 2024, <strong>renewable energy-based electricity generation capacity <\/strong>stands at <strong>201.45 GW,<\/strong> accounting for <strong>46.3 percent<\/strong> of the country&#8217;s total installed capacity.\n<ul class=\"wp-block-list\">\n<li><strong>Solar power<\/strong> contributes towards <strong>90.76 GW<\/strong>, <strong>wind power<\/strong> follows closely with 47.36 GW, h<strong>ydroelectric power<\/strong> generating 46.92 GW and small hydro power adding 5.07 GW, and <strong>biopower<\/strong>, including biomass and biogas energy, adds another <strong>11.32 GW<\/strong>.\u00a0<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img data-dominant-color=\"bcd4df\" data-has-transparency=\"false\" style=\"--dominant-color: #bcd4df;\" loading=\"lazy\" decoding=\"async\" width=\"483\" height=\"448\" src=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2024\/11\/renewable-energy-jpg.webp\" alt=\"renewable-energy\" class=\"not-transparent wp-image-31791\" srcset=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2024\/11\/renewable-energy-jpg.webp 483w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2024\/11\/renewable-energy-300x278.webp 300w\" sizes=\"auto, (max-width: 483px) 100vw, 483px\" \/><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><strong>India\u2019s Targets<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>India has a vision to achieve<strong> Net Zero Emissions by 2070,<\/strong> in addition to attaining the short-term targets which include:\n<ul class=\"wp-block-list\">\n<li>Increasing renewables capacity to<strong> 500 GW by 2030,<\/strong><\/li>\n\n\n\n<li>Meeting <strong>50% of energy requirements<\/strong> from renewables,<\/li>\n\n\n\n<li>Reducing cumulative emissions by<strong> one billion tonnes by 2030, <\/strong>and<\/li>\n\n\n\n<li>Reducing emissions intensity of India\u2019s gross domestic product (GDP) by <strong>45% by 2030 from 2005 levels.\u00a0<\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p><strong>Source: <\/strong><a href=\"https:\/\/pib.gov.in\/PressReleasePage.aspx?PRID=2070923\" target=\"_blank\" rel=\"noopener\"><strong>PIB<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 3rd edition of the World Solar Report series was released at the 7th Assembly of the International Solar Alliance.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-31790","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/31790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=31790"}],"version-history":[{"count":1,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/31790\/revisions"}],"predecessor-version":[{"id":31792,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/31790\/revisions\/31792"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=31790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=31790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=31790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}