International Solar Alliance to Release Global Solar Adoption Report

Coming report by International Solar Alliance in November:-

Why in the News?

In November, a report will be released by ISA (International Solar Alliance) on the Global Adoption of Solar Technology. The sixth annual meeting will be going to happen in Delhi. This report is called as “Global Solar Stock Trade Report”.

Ajay Mathur said that the report will be released somewhere between the coming month of November. Mathur is the Director General of ISA. He added, “In 2020, nearly $300 billion of investment in solar has taken place and around $380 billion in 2022. However, manufacturing is uneven, with most of it concentrated in China. The stocktake will look at ways to broaden this.”

What is ISA (International Solar Alliance)?

It stands for International Solar Alliance, which is an intergovernmental organization which stands to promote the use of solar energy and solar technology. It most specifically focused on the countries located between the Tropic of Cancer and the Tropic of Capricorn. This mission was launched on 30 November 2015 at the United Nations Climate Change Conference. Which was held in Paris, France, by Indian Prime Minister Narendra Modi and French President François Hollande. This is an alliance with 120 signatory countries. The main goal of this alliance is to make efficient use of solar energy and less dependence on fossil fuels.

Headquarters of ISA (International Solar Alliance):-

In India, ISA headquarters is located in Haryana. The National Institute of Solar Energy in Gurugram, India.

Objectives of ISA:-

1. Promotion of solar energy: The sun is the most significant energy source. The mission of this organization is to use the most efficient, eco-friendly, and more stable energy source and less dependence on fossil fuel energy.
2. Solar technology Research and Development:- This alliance also focuses on research and development in solar energy and promoting innovations in solar technologies.
3. Solar Application:– The promotion of the use of Solar energy by the International Solar Alliance will not be only about using it for electricity but also in other applications such as water, agriculture, heating and cooling.
4. Solar Diplomacy:- A collaboration between many countries will join their hand in a particular mission related to the environment. Which will surely improve the relations between the countries. They will jointly work, share experience and expertise. And start doing joined projects that will promote collaboration and partnership between these countries, which will surely help them build the most efficient team and will be fruitful to all nations’ democracies.
5. Solar Financing:- As we all are aware, the cost of doing solar projects is so high. This organization will seek to create financial mechanisms and instruments that will reduce the cost of capital for carrying solar projects. This initiative can help in making it more affordable.

Geographical Importance:-

The region that is located on Earth between the Tropic of Cancer and the Tropic of Capricorn is the Torrid Zone. It receives the most amount of sun’s energy. Here sun appears directly overhead, the sun’s effect is comparatively higher in this region, as compared to the north and south regions of Earth. There is less sunlight in intensity.

Geopolitical Importance of India:-

1. Creating goodwill among all the countries.
2. Strengthening ties with African countries.

Significance of this mission for India:-

1. Promotion of Solar Industry:- The growth of India’s solar energy will create an Industry for solar energy. This will be helpful in economic development and more job opportunities as there is a rise in the manufacturing, installation, and maintenance of solar panels.
2. Exporting Opportunities:- As with time, when India builds solar technology, it can become an exporter of various devices and innovative technology. Which will surely help in India’s boosting of economic trade and gains for India.
3. Increase of Energy Access:- With solar innovation and devices, we can increase the access to electricity in various rural areas. This will improve the lifestyle of people living there and enable them to start their small business ventures, and education will become easier.
4. Less Greenhouse Gas Emission: – This initiative will not be only beneficial for the nation’s economy and diplomacy but also in reducing greenhouse gas emissions and pollution. This way, it can contribute to combating climatic change.

Also Read: What is Prompt Engineering?