IRENA salutes alliance with ‘sunshine nations’ estimates solar to deliver 35 per cent of global power capacity by 2050

The International Renewable Energy Association (IRENA) has welcomed its initialing of a ‘joint declaration’ agreement with the International Solar Alliance (ISA) also referred to as ‘alliance of sunshine nation’ to deepen cooperation in solar power deployment.

IRENA also stated its expectation of electricity generated from solar sources to make up 35 per cent of overall energy capacity of the world by 2050.

A statement from the agency said its Director General, Mr. Adnan Z. Amin, met with the Interim Director General of ISA, Mr. Upendra Tripathy, at the founding conference of ISA.

It explained the conference was co-chaired by the prime minister of India, Narendra Modi and France President, Emanuel Macron, at the Rashtrapati Bhavan Cultural Center in New Delhi.

Amin, was equally quoted in the statement to have said: “Driven by remarkable cost declines, innovative policies and new business models, solar energy has emerged as the fastest growing renewable energy worldwide. There is an immense opportunity at hand to bring its benefits to more and more countries around the world.”

He noted: “IRENA estimates that solar must account for at least 35 per cent of global power capacity by 2050 to meet the objectives the Paris Agreement on climate.”

According to him: “In this context, IRENA stands ready to work with ISA and its members to scale-up solar energy deployment as a means to expanding affordable, reliable and sustainable energy access, as well as to addressing climate and energy security concerns. IRENA looks forward to strengthening collaboration with ISA, sharing its knowledge and experience, and making available its project facilitation tools and platforms.”

Similarly, Tripathy, explained: “The International Solar Alliance has a well-articulated goal to facilitate the mobilisation of $1 trillion of capital to rapidly accelerate the adoption of solar energy all over the world.”

He added: “While solar is fast becoming one of the most cost-effective ways to generate new power and deliver energy access, to deploy fast enough, complementarity must exist between our work and the broader renewable energy mandate and development tools established by IRENA. This fusion of capabilities will help to catalyse solar development in line with the goals set out under the Paris Agreement.”

The statement noted that driven by the rapid advances in technology and economies of scale, the cost of electricity from solar photovoltaics decreased by almost 70 per cent between 2010 and 2016.

IRENA, it noted estimates that average cost of electricity from solar photovoltaics can decrease by further 60 per cent in the coming decade.

It stated that solar power is also a significant employer of people worldwide, with around 3.1 million jobs working in the sector in 2016.

The joint declaration, it explained affirmed the commitment of the IRENA and ISA to collaborate on advancing solar deployment and projects through helping countries develop policies and regulations around solar energy and through the implementation of IRENA initiatives such as the Clean Energy Corridors and the SIDS Lighthouses.

IRENA, equally stated that its project facilitation tools and platforms such as the Global Atlas for Renewable Energy, the Project Navigator, and the Sustainable Energy Marketplace will be made available to ISA, in support of its project-focused work in countries.