The U.S. solar industry is set to play a prominent role at COP29 in Baku, Azerbaijan. The Solar Energy Industries Association (SEIA) will be participating for the first time, aiming to contribute its expertise on renewable energy and advocate for the global expansion of solar capacity.
Last year, 200 nations committed to tripling global renewable energy capacity by 2030, highlighting the urgency of the climate crisis. The U.S. is the second-largest solar adopter globally and is crucial to achieving the goal of increasing renewable energy capacity to 11 terawatts, with solar expected to account for 60% of this growth.
To meet these targets, the U.S. must install an additional 30 gigawatts of solar capacity over the next six years. The recent boom in the solar market, largely attributed to the Inflation Reduction Act (IRA), has made this challenge more feasible. The IRA has quadrupled solar module manufacturing in the U.S. and has garnered bipartisan support. Despite uncertainties surrounding the upcoming administration, there is cautious optimism about the future of the IRA.
SEIA plans to leverage its expertise at COP29 to advocate for investments in solar energy and promote collaborative trade policies. The association aims to highlight the opportunities presented by renewable energy and catalyze action to scale solar infrastructure worldwide. The urgency of the climate crisis necessitates tangible outcomes from this conference, and SEIA's participation is about fostering a global dialogue that prioritizes sustainable energy solutions.
The outcomes of COP29 could significantly influence the trajectory of renewable energy development.