Global Solar Council (GSC)

The Global Solar Council (GSC) acknowledges the deal at #COP29 Baku, which keeps the social contract within the Paris Agreement alive - but only just. The “Finance COP” has agreed a new finance target of $300bn from developed to developing countries for climate related projects. However compare that to the $500bn a year that is currently being invested in solar PV alone globally according to International Energy Agency (IEA) estimates - mostly in developed countries - and you realise how much more private finance can do if the economics are right. We in the Global Solar Council will focus on mobilising low cost private finance for solar around the world and using the scarce grants and concessional subsidised finance primarily for smaller-scale renewables in the Least Developed Countries and islands that need it most. Our International Solar Finance Group, launched last week in Baku and led by Jinko Solar Co., Ltd. and LIN SUN will work across Multilateral Development Banks and private investors to bring the cost of capital down for solar projects in developing countries from eg 15% to 5%. The Global Renewables Alliance (GRA) and Ana Rovzar Bruce Douglas are also working to solve the finance barrier for all renewables, all over the world. #3xRenewables Solar has the potential to be transformational for small islands and the most vulnerable countries, allowing households and villages to access clean energy, pull themselves out of poverty and sometimes power their lives for the first time. The Global Solar Council will also work to maximise the #adaptation and resilience benefits of solar PV, storage and distributed renewables. We need a more distributed electricity system with household solar and storage that can go into “off grid mode” during blackouts and natural disasters. The International Solar Alliance, the intergovernmental organisation on solar, will also work to strengthen its Global Solar Facility to empower developing countries to grab the opportunity of the solar revolution that is underway. We just did 2TW of solar PV globally, and can do so much more. #SolarCanDeliver https://lnkd.in/eBspJqeN We will also work with the Greening the Islands Foundation to deliver solar and green energy solutions for the smallest and most vulnerable islands, who were the protagonists, the heros, of this COP. Samoa, Marshall Islands, the Maldives, Dominican Republic - we stand with you to deliver 100% renewable islands and show how it’s done. Gianni Chianetta Francesco Luise Global Solar Council is available for comment and broadcast, in London, Brussels and all over the world through our network. Huge thanks to the incredible Global Solar Council CO29 team of Alyssa Pek Abdallah Alshamali Léo Echard and Rita Ren. We will do a separate reaction on grids and storage.

?? ??????'?? ???????????????? ???? ?????? ?????????? ?????????? ?????????????????? Bruce Douglas, CEO of GRA, reacts to the final outcome of the COP29 negotiations in Baku: "This agreement falls far short of the transformative finance and ambition needed to protect developing countries and supercharge the required energy transition. However, the direction of travel remains clear: the transition to #renewables is unstoppable. ? There are some glimmers of hope, with the reaffirmation of the COP28 global stock take (but seemingly without any agreed step forward) and commitments to a roadmap for delivering direct financial support and reform. There is a pledge to increase funding to developing countries to USD 300 Billion per year by 2035 and a roadmap to take that up to 1.3 Trillion per year (mainly from private finance). But, let’s be very clear—this agreement is just a foundation, not a solution, with a lot of obstruction encountered on the way - it lacks the ambition and leadership needed from wealthier nations. ? A fair, fast, and fully funded transition must now take priority, with direct investments flowing into renewables for EMDEs and a decisive shift away from fossil fuels. This is the only way to share the enormous benefits of a renewable powered future with everyone. ? The renewables industry is already delivering globally, proving its scalability and resilience, but progress depends on immediate and bold government action to provide enabling frameworks and implement the $1.3 trillion roadmap without delay. ? Another positive sign was the support of multiple countries for the global energy #storage and #grids pledge. Urgent action and #finance are now required to implement these global targets. Thank you to the COP29 Presidency and Azerbaijan government for a warm welcome to beautiful Baku, smooth event organisation, pushing the action agenda and raising awareness in the importance of #Flexibility - essential to triple renewables. Special thanks to my friend and relentless supporter of these energy pledges, Orkhan Zeynalov. ? As we look ahead to COP30 in Belém, nations must now step up with specific, action-orientated national plans to deliver a clean, secure and just future for all." ?? Read UN news article here: https://lnkd.in/eNDm_yjE ?? Read final COP29 agreement documents here: https://lnkd.in/egPVq4Fw ?? See Global Renewables Alliance (GRA) action agenda here : https://lnkd.in/eCXqZCgs. #Time4Action #3xRenewables #NowDeliverChange Global Wind Energy Council (GWEC) Ben Backwell | Global Solar Council (GSC) Sonia Dunlop | International Hydropower Association (IHA) Eddie Rich | Long Duration Energy Storage Council (LDES Council) Julia Souder | International Geothermal Association Marit Brommer

?? Reflecting on a Milestone at COP29: Advancing Ethical Renewable Energy Financing ?? ? On November 20th, the Global Alliance for Sustainable Energy hosted a pivotal event at COP29 in Baku, focusing on "How Responsible Governance Can Catalyse Renewable Energy Financing." The discussions underscored the vital role of human rights, inclusion, and biodiversity in shaping the future of renewable energy. By aligning financial strategies with these ethical principles, we can drive a transition that is not only sustainable but also fair and inclusive. ? Highlights from the Event: ? The announcement of a landmark Memorandum of Understanding between the Global Renewables Alliance (GRA) and our Alliance, signaling a new chapter of collaboration. ? The launch of our Position Paper on Human Rights & Inclusion, setting a bold framework for ethical governance in the renewable energy sector. ? A thought-provoking panel featuring experts from UN DESA, IRENA, WWF, Global Solar Council, and European Youth Energy Network. ? ?? Key Takeaways: Ethical governance is a catalyst for attracting sustainable investment and fostering innovation. Renewable energy projects must integrate human rights and biodiversity to create lasting value for communities and ecosystems. Cross-sector collaboration is critical to advancing just energy transitions worldwide. ? We’re grateful to everyone who contributed to the event's success and joined us in shaping a future where renewable energy is both clean and equitable. ???? Let’s continue building on this momentum together! ? ?? Discover more about our initiatives: https://lnkd.in/dRNWqeKJ #COP29 #SustainableEnergy #EthicsInEnergy #RenewableEnergy #HumanRights #Inclusion #Biodiversity #FinanceForGood

?? ?????? ???????????? ???? ?????? ?????? ???? ?????????????? ??????????????’ ?????????????????????? "The Global Renewables Alliance welcomes the G20 Leaders' continued endorsement of the goal to triple renewable energy capacity by 2030 and the positive signals on financing. However, the outcomes still fall short of what the renewable energy sector—and the world—urgently needs," said Bruce Douglas, CEO of GRA. It is now up to COP29 to deliver on the promises. ?? See more GRA opinion on the G20 declaration here: https://lnkd.in/dKnhJiWW ?? Read the full declaration: https://lnkd.in/gsC5vkcq GRA members Global Solar Council (GSC) Sonia Dunlop | Global Wind Energy Council (GWEC) Ben Backwell | Green Hydrogen Organisation - GH2 Jonas Moberg | International Hydropower Association (IHA) Eddie Rich | Long Duration Energy Storage Council (LDES Council) Julia Souder | International Geothermal Association Marit Brommer #G20 #G20Brazil?#3xRenewables #Time4Action #NowDeliverChange

?? Excited to have contributed to the '20 Solutions in Action' publication, launched at #COP29! The Kela PV Power Plant demonstrates a replicable and high-impact pathway for enhancing efficiency by combining solar and hydropower. A collaborative effort between the Solar Impulse Foundation and the Global Renewables Alliance (GRA), this work highlights real actions that support the UAE Consensus and drive progress towards our shared energy goals. ? Discover more about our solution on pages 40-41 in 20 Solutions in Action: https://lnkd.in/gbexptqj #Huawei #DDTU #EfficiencyNOW #Renewables

At #COP29, we need #Action4Finance ?? More specifically, we need to make sure that finance is channeled to the key solutions like #solarPV and #renewables that can ensure our world stays on a 1.5C pathway, and that this #finance is equitably distributed so no one gets left behind. That's why the Global Solar Council launched the International Solar Finance Group at #COP29 in #Baku, creating the world’s first ever global dialogue between the solar PV industry and the finance sector to bridge the financial gap between ambition and deployment and to ensure that the world remains on track to meet its climate and sustainable development commitments. ?? Our goal is to reduce the cost of capital for solar in developing economies from 15% to 5% to remove the financing barrier and boost deployment. The Group will bring together the #solar industry, private banks and investors, development banks, climate finance, and public institutions to connect, share knowledge, discuss challenges, and offer recommendations to drive real-world financing solutions to match ambition. It will also serve to drive actions aimed at channeling solar finance where it’s needed most. ?? Interested in joining the group? Reach out to us at [email protected] to help drive action on finance to power the #solarrevolution in every corner of the world.

The world took 68 years to deploy 1TW of solar PV, and just two years to deploy the second TW. Our CEO John Grimes celebrating 2TW with Global Solar Council (GSC) chair Máté Heisz, CEO Sonia Dunlop, and Chair Elect Rodrigo Lopes Sauaia at COP29 in Baku. #SolarCanDeliver

?? "Solar is set to deliver the lion’s share of the #3xRenewables target", says our outgoing Chair and Director of Global Affairs SolarPower Europe Máté Heisz on how #SolarCanDeliver. At #COP28 in Dubai, world leaders established the goal to achieve 11 TW of global #renewables capacity by 2030. At #COP29, we are celebrating the achievement of 2 TW of global #solarPV capacity as a major contributor to this goal - but there is still a lot of work to be done to achieve the next TW's even faster, and ensure a #justtransition. As we enter the last few days of negotiations in #Baku, the global solar industry calls on world leaders to #NowDeliverChange ??

Alyessa Pek, Strategy Director, Global Solar Council (GSC) – "It's an honour to be here at the ISA Pavilion. International collaboration is key to meeting our climate goals. Last year in Dubai, world leaders set a target to triple renewable energy capacity by 2030 to stay on the 1.5°C pathway, and solar will contribute over half of that. We must work together to develop skills, build solar grids, and drive progress."? ?#ISAatCOP29?#SolarEnergy #ClimateAction #RenewableEnergy #GlobalCollaboration COP29 Azerbaijan

We can’t achieve #3xRenewables without #storage. That’s why we are supporting the global energy storage pledge of 1,500GW by 2030 at #COP29. It’s #Time4Action ??