2 days ago
Solar can drive jobs, equity, climate goals — but investment still uneven
New Delhi: The Sixth Meeting of the ISA Regional Committee for Europe and the Others Region was held in Brussels with participation from 20 countries and partners to review
solar energy
progress and advance global collaborations under the
International Solar Alliance
(ISA).
The meeting was chaired by Germany, the regional Vice President, and convened to align strategic priorities and assess implementation status across member nations.
ISA Director General Ashish Khanna said, 'Your presence here today reflects our shared commitment to advancing the global transition to solar energy. Our focus must now turn to ensuring these advancements translate into jobs, equity, and climate resilience.' He added that $2 trillion was invested in clean energy last fiscal, with solar photovoltaics leading, but only 15% of it reached low- and middle-income countries and less than 2% was directed to Africa.
Highlighting energy access challenges, Khanna said 600 million people in Africa remain without electricity access. 'ISA is mobilising $200 million to leverage more than 30 times the private investment in Distributed Renewable Energy in Africa,' he added.
Tobias Rinke, Deputy Head of Division, Federal Ministry for Economic Affairs and Energy, Germany, said the alliance's membership has grown to 123 countries with doubling of active engagements since 2022. He referenced COP28 commitments, where nearly 200 countries agreed to triple renewable capacity and transition from fossil fuels. 'Solar energy plays a central role in achieving these goals,' he said.
In a session with ISA Director General, IEA's Laura Cozzi said, 'AI-related infrastructure could add electricity demand equivalent to a 'new Japan' by 2030.' She said AI can optimise grid operations and improve energy access. She also announced the launch of an Energy and AI Observatory by the IEA.
In a separate session, CIFF CEO Kate Hampton said the key financing challenge is the shortage of catalytic equity rather than debt. She said philanthropy can fill this gap and support country platforms with technical assistance, policy engagement, and junior equity. 'A major constraint lies in the availability of skilled professionals capable of navigating delivery, policy, and finance,' she added.
European Commissioner for Energy and Housing Dan Jørgensen, in his keynote address, said the cost of solar power has dropped 82% in the EU over the past decade. He said an additional 12% global decline in 2023 made solar the fastest-growing and most affordable clean energy source today.
Upcoming discussions at the meeting include topics on Catalytic Finance in Africa, ISA's STAR-Cs initiative, AI in the energy sector, and a roundtable on energy storage and
green hydrogen
.
