Context:
ISA releases World Solar Report series.
World Solar Report Series:
- Released by – International Solar Alliance (ISA)
- Consists of 4 Reports –
- World Solar Market Report 2024
- World Investment Report 2024
- World Technology Report 2024
- GH2 Readiness Assessment for African Countries Report
Key Findings:
- Global Solar Capacity increased from 1.22 GW in 2000 to approximately 1,419 GW in 2023.
- Manufacturing vs. Demand – Solar manufacturing is projected to exceed 1,100 GW by 2024, more than double the current demand, leading to significant price reductions for solar panels.
- Solar Jobs – There are 16.2 million clean energy jobs globally, with 7.1 million in the solar sector, marking a 44% increase from 2022.
- Global energy investments are expected to rise from $2.4 trillion in 2018 to $3.1 trillion in 2024.
- Solar Investment – Solar energy accounts for 59% of all renewable energy investments.
- Technological Advances – Multijunction perovskite cells are emerging as a disruptive technology.
- Perovskites are a group of compounds that can be tuned to form efficient and flexible solar panels.
- Cost Reduction – The cost of utility-scale solar PV has dropped by 90% since 2010.
- GH2 Potential – Report highlights the potential of Green Hydrogen to decarbonize industries that heavily rely on fossil fuels, such as steel and fertilizer production.
Source: PIB
Previous Year Question
With reference to solar power production in India, consider the following statements:
1. India is the third largest in the world in the manufacture of silicon wafers used in photovoltaic units.
2. The solar power tariffs are determined by the Solar Energy Corporation of India.
Which of the statements given above is/are correct?
[UPSC Civil Service Exam – 2018 Prelims]
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer: (d)
Explanation:
Statement 1 is not correct: China is the world’s largest silicon producer. The second largest producer of this metalloid in the world is Russia, Norway being third followed by the United States and Brazil.
Statement 2 is not correct: Central Electricity Regulatory Commission determines power tariffs including solar power tariffs in India and regulates the tariff of generating companies owned or controlled by the Central Government.