Need even distribution of global solar investment: ISA

Investments in solar energy generation need to be evenly distributed to cover more middle and lower income countries according to Ashish Khanna, Director General at the International Solar Alliance (ISA). Speaking at ISA’s Sixth Regional Committee Meeting, Khanna said nearly $2 trillion was invested in clean energy in the last fiscal, with solar photovoltaics leading the way and holding the largest share of these investments.

“Despite this growth, the distribution remains unequal. Only 15% of these investments are reaching low- and middle-income countries, and less than 2% is going to Africa, a region with some of the world’s best solar radiation potential,” he said.

Commenting on the need for bettering energy access, Khanna said 600 million people in Africa are still living without access to electricity—and across the Global South, where 70% of the world’s population resides. “There is an urgent need for nearly $200 billion in investments (in these regions),” he said.