New Delhi, 22 Oct (KNN) The 4th General Assembly of the International Solar Alliance (ISA), chaired by Union Minister R.K. Singh, Minister for Power, New & Renewable Energy and the President of the ISA Assembly was held virtually between 18th to 21st October, 2021.

Delivering the Presidential address, Union Minister RK Singh said, that it is time for all of us to get together to make energy access using solar and renewable energy available.

We have successfully done this in India, and it can be replicated globally. Solving the problem of energy access is more important than the energy transition. The energy transition is meaningless for those without energy. The ISA can enable energy access for 800 million people worldwide.

He emphasized that it is time for developed countries to direct the energy transitions funds they had committed at previous climate conferences. ISA will cover credit guarantees and help in driving green energy investments in these countries. Developed nations must decide whether economic development should take place through clean energy, or by burning coal and firewood, Power Minister Singh said.

The discussions at the Assembly highlighted that the MSME clusters can replace diesel gensets with hydrogen, which are viable even at today’s solar hydrogen prices.

As per a report by the Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research, Micro, small and medium-sized enterprises (MSMEs) could drive large-scale rooftop solar adoption in India if accessible financing options were made more readily available to them.

This would make MSMEs a significant part of the supply chain. MSMEs pay larger amount for electricity consumption, hence solar energy is a cost effective source for small businesses which is eco-friendly.

Dr. Ajay Mathur, Director General, the ISA said, “Solar will catalyse the world’s transition to a lower-carbon economy, being the lowest cost and most economical solution for increasing power generation capacity in countries. It also has the potential to help lift no less than a billion people out of energy poverty, but only if adequate investments are mobilized and the right policy frameworks are erected. ISA targets USD 1 trillion of investment in solar by 2030, which would be significant in bringing the world closer to energy transitions needed.”

U.S. Special Presidential Envoy for Climate John Kerry, said, “Solar energy is the most powerful tool that the world has in its toolkit to combat climate crisis. Building a solar powered economy won’t just slash carbon emissions, it’ll open enormous economic opportunities. The ISA is unique in its focus on spreading solar to emerging economies including small island states. So, I commend the tremendous work that every country here is doing as part of the International Solar Alliance. Solar energy is critical to our collective climate goals.”

An update on One Sun One World One Grid (OSOWOG) initiative was also discussed at the Assembly. The concept of a single global grid for solar was first outlined at the First Assembly of the ISA in late 2018.

It envisions building and scaling inter-regional energy grids to share solar energy across the globe, leveraging the differences of time zones, seasons, resources, and prices between countries and regions. OSOWOG will also help decarbonise energy production, which is today the largest source of global greenhouse gas emissions.

Aiming to synergize its efforts and actions with other similar initiatives globally, OSOWOG has joined hands with GGI to form a unified GGI-OSOWOG initiative, which aims to contribute to the collaborative, rapid development of resilient grids globally – building on continental, regional and national grid infrastructure programs. The UK COP Presidency, the Government of India, and the Presidency of the ISA, are expected to announce this collaboration at COP26, to facilitate increased technical, financial, and research cooperation to help deliver the joint vision of the two initiatives.

A total of 108 countries participated in the Assembly, including 74 Member Countries and 34 Observer & Prospective Countries, 23 Partner Organizations and 33 Special Invitee Organisations also participated.

The International Solar Alliance (ISA) also announced a partnership with Bloomberg Philanthropies to mobilize USD 1 trillion in global investments for solar energy across ISA’s member countries. The two organizations will work with World Resources Institute (WRI) to develop a Solar Investment Action Agenda and a Solar Investment Roadmap, which will be launched at COP26.