India-led alliance bats for diverse solar energy market
For countries to transition away from fossil fuels and toward cleaner energies like solar power, supply chains for components need to be more geographically diverse, officials during a conference on solar energy in New Delhi said on Tuesday
BENGALURU, India (AP) — For countries to transition away from fossil fuels and toward cleaner energies like solar power, supply chains for components need to be more geographically diverse, officials said during a conference on solar energy in New Delhi said on Tuesday.
Currently, 75% of components needed for solar power are manufactured in China, according to a recent report by the International Energy Agency. Representatives at the fifth assembly of the International Solar Alliance, made up of 110 member countries, want that to change.
“By 2030, we expect that solar will be the cheapest source of electricity in most geographies," said Ajay Mathur, director general of the ISA.
Adding that freight prices have spiked, Mathur urged for "multiple regions from which solar photovoltaic products can go from the producer to the supplier” to ensure that more nations benefit from the cheap prices of solar energy.
