Renewable energy sources can provide up to 90% of the world’s electricity by 2050 and up to 65% by 2030, according to Union Power and New & Renewable Energy Minister R K Singh’s statement on Tuesday.
In his remarks at the Sixth Assembly of the International Solar Alliance (ISA), Singh stated, “By 2030, renewable energy sources could provide 65 percent of the world’s electricity, and by 2050, they could decarbonize 90 percent of the power sector.” According to what he told me, over 80 percent of the world’s population—roughly 6 billion people—live in nations that import fossil fuels.
Singh extended an invitation to all participating nations, ISA Partner Organizations and other organizations to collaborate with ISA in order to position it as a driving force behind the revolutionary transformation. He stated, “When the ISA was founded, our goal was to use solar energy solutions to create a sustainable world.”
He emphasized that the goal is to triple the amount of renewable energy produced globally by 2030, in line with national policies and targets. The goal also involves extending aspirations to include low- and zero-emission technologies, adopting more blended finance, and providing risk-sharing facilities for the renewable energy industry.
“Encouragingly, investment in clean energy has seen a commendable 12 per cent annual growth rate since 2020, driven largely by solar and wind power projects,” stated Ajay Mathur, Director General of ISA. However, he pointed out that many developing economies, especially in Africa, are left behind as this rise in investment is mainly focused in a small number of nations.
The inaugural ceremony of the sixth ISA Assembly was attended by delegates from 116 Member and Signatory countries, 18 prospective members, and ministers from 20 different countries.
