India can lead the world on Solar Grid: PM

Prelims level : Economy Mains level : Achievements of Indians in science & technology; indigenization of technology and developing new technology.
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In News:

  • At the annual Pravasi Bharatiya Divas in Varanasi on Tuesday, Prime Minister highlighted India’s potential to lead the world in sustainable development.
  • In many respects, India can now provide leadership in the world. The International Solar Alliance or ISA is one such platform. Through this medium, we want to take the world towards one world, one sun and one grid.



International Solar Alliance:

  • The International Solar Alliance is a common platform for cooperation among sun-rich countries lying fully or partially between the Tropics of Cancer and Capricorn who are seeking to massively ramp up solar energy, thereby helping to bend the global greenhouse emissions curve whilst providing clean and cheap energy.
  • Countries, bilateral and multilateral organisations, companies, industries, and stakeholders aim to reduce the cost of finance and cost of technology for the immediate deployment of competitive solar generation, storage and technologies adapted to countries’ individual needs and to mobilize billions of dollars for solar.
  • The initiative was launched at the UN Climate Change Conference in Paris at the end of 2015 by the President of France and the Prime Minister of India.
  • It will not duplicate or replicate the efforts that others (like International Renewable Energy Agency (IRENA), Renewable Energy and Energy Efficiency Partnership (REEEP), International Energy Agency (IEA), Renewable Energy Policy Network for the 21st Century (REN21), United Nations bodies, bilateral organizations etc.) are currently engaged in, but will establish networks and develop synergies with them and supplement their efforts in a sustainable and focused manner.

Key focus areas to achieve these objectives are to:

  • Promote solar technologies, new business models and investment in the solar sector to enhance prosperity
  • Formulate projects and programmes to promote solar applications
  • Develop innovative financial mechanisms to reduce cost of capital
  • Build a common knowledge e-portal
  • Facilitate capacity building for promotion and absorption of solar technologies and r&d among member countries.
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