Global solar investments set to reach $500 bn this year: Pralhad Joshi

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Global solar investments set to reach $500 bn this year: Pralhad Joshi - Business Standard

Quick Summary:

Union Minister Pralhad Joshi on Monday asserted that global solar investments will touch USD 500 billion this year from the USD 393 billion level in 2023 and said it is the most affordable energy source in many regions, surpassing coal and gas.

These investments are not only adding new capacity but also driving down the cost of energy from solar worldwide, Joshi, the minister of new and renewable energy, said addressing the inaugural session of 7th General Assembly of the International Solar Alliance (ISA).

Global solar investments have grown from USD 144 billion in 2018 to USD 393 billion in 2023 and are expected to reach USD 500 billion by the end of 2024".