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Solar Power: Fueling Global Growth, Competitiveness, and Resilience
Solar energy stands out as a uniquely scalable and versatile resource. Every nation and every individual across the globe can benefit—from the frozen north to the deepest rainforests, from the arid plains of the Atacama to the bustling metropolises of New York, Paris, São Paulo, Shanghai, and Tokyo.
We have clearly entered a new era in global geopolitics, where security is a renewed focus, and a "post-aid" age is emerging. The patterns sustained since 1945 are rapidly shifting.
The solar industry is deeply impacted by this changing landscape. As one of the energy technologies with the most profound geopolitical implications, we carry a significant responsibility and mission: to provide sustainable, domestically generated electricity for development, to enhance resilience against climate impacts, and, most importantly, to deliver cheap, clean power for economic growth and improved quality of life.
Solar power is a key technology leading the energy transition. If we fully harness its potential, it will help us avoid global warming exceeding 1.5°C to 2°C. Solar provides highly competitive electricity, enabling electrification and green power for industrial, commercial, and agricultural sectors. Leading market analysts and intergovernmental agencies confirm that solar now offers the lowest-cost electricity in history.
Solar enhances energy security. For nations accustomed to extracting, storing, burning, or exporting fossil fuels, this represents a new, different type of security—based on the sun's daily, predictable rise and fall. This security comes from solar systems that can be rapidly deployed, are modular by design, meet electricity demand directly, and operate quietly and reliably for 25 years or more. It is security inherent in the power supply itself, as distributed solar and storage systems can keep lights and air conditioning on during natural disasters, extreme weather, or unexpected conflicts.
Crucially, solar is a significant economic driver, supported largely by small and medium-sized enterprises (SMEs) that provide high-quality local jobs. These businesses are numerous and widespread, found in every village, town, and city globally. Solar has already created employment for over 7 million people worldwide. An estimated 70-90% of these jobs are local, spanning installation, engineering, sales, and more. Every solar component—be it a PV module, an inverter, or a storage unit like a battery—requires human effort to sell, transport, and install, whether bolted to rooftop racks or fixed to ground-mounted structures. This generates substantial local employment.
Perhaps most transformatively, solar and storage are fundamentally changing electricity access in developing nations. Thanks to these technologies, the 700 million people still without reliable power can now charge phones and laptops, run small businesses, or irrigate fields. We no longer necessarily need massive transmission towers to power the smallest communities—a truckload of solar lights, solar-plus-storage systems, and a simple microgrid can do the job faster, better, and, considering the prevalence of load-shedding in some regions, more reliably.
Even for those of us with decades in the field, the versatility of solar technology remains astounding. An 8 GW solar plant in the desert powering over a million homes? Absolutely. Floating solar on reservoirs, lakes, and coastal waters? We do that too. Mounting panels slightly elevated above crops, providing shade and power for agricultural activities? Equally viable. A mini solar system the size of an iPad providing light after dark off-grid? Certainly—according to GOGLA, 560 million people globally benefit from such solutions at least weekly. Hanging a panel (or several) on a balcony? We've seen 400,000 installations in Germany alone. Mounting panels on aircraft wings for a round-the-world flight? We achieved that with the Solar Impulse in 2016 and are poised to do it again, powered by solar, batteries, and green hydrogen.
Solar's scalability and adaptability mean it can meet needs big and small. This is why solar PV now consistently generates over 700 GW of new capacity annually, becoming the fastest-growing electricity source in history, with continued expansion ahead.
Of course, challenges persist in the solar and storage sector, and new ones will emerge. High financing costs in many developing markets can stall capital-intensive solar projects. We need risk mitigation mechanisms to make projects investment-ready. Where solar has proven successful, we must reform electricity markets and enhance system flexibility, allowing demand to respond to prices. Where rooftop solar installation involves cumbersome processes, we must streamline unnecessary approvals and red tape. Various trade barriers artificially inflate costs, making solar prohibitively expensive for end-consumers in some markets.
If we can address these hurdles, estimates suggest solar could meet half of global electricity demand by 2035. By 2030, we can and should aim for 8 TW of installed solar PV capacity. The powerful combination of solar with other renewables, short- and long-term storage, and system flexibility will save costs, spur growth, attract local investment, create more high-quality local jobs, and deliver much-needed development. The opportunity is here—we need leaders in governments, regulatory bodies, finance, and global diplomacy, whether at COP30 or beyond, to recognize this and act swiftly.


