Last year, world leaders gathered in Dubai for the United Nations Climate Change Conference of the Parties (COP), the most consequential annual conference on global climate change.
Clean energy has played a central role in these negotiations and is often looked at as one of the top solutions to fight climate change. Last year at COP28, 200 countries pledged to triple global renewable energy capacity by 2030, an ambitious target with a tight deadline.
As world leaders gather in Baku, Azerbaijan for COP29, the Solar Energy Industries Association (SEIA) is attending for the first time, lending its voice and expertise to this urgent conversation. Alongside its global counterparts, SEIA will offer guidance on how to proactively and responsibly manage the growing renewables industry, from strengthening supply chains and opening international markets to securing critical minerals and expanding storage adoption.
The United States is the second largest solar adopter in the world and is going to play a critical part in reaching the COP28 goal to triple renewable energy capacity.
To meet this goal, global renewable energy capacity needs to grow to 11 terawatts and about 60% can come from global solar capacity. To stay on track, over the next six years the United States needs to install an extra 30 gigawatts of solar capacity over current expectations. If the world reaches this goal, U.S. solar will represent about 9% of global renewable energy capacity.
This target is achievable because the U.S. solar market has been booming since the Inflation Reduction Act passed two years ago. Since then, solar module manufacturing has quadrupled, deployment has surged, and, over the next 5 years, the U.S. solar and storage industry is expected to add at least 200 GW of new solar capacity, nearly the same amount of solar that we currently have installed today.
But the United States can’t do this work alone and every country needs to play a part.
Beyond solar capacity, U.S. leadership can help drive greater ambition and help organize the innovations, ideas, and industry standards needed to help every country expand solar deployment.
The Inflation Reduction Act has done more to expand domestic manufacturing than any other piece of legislation in American history and that is helping to accelerate the politics of the energy transition.
Around 70-80% of all IRA investments have flowed to conservative districts and solar enjoys broad, bipartisan support. President-elect Donald Trump has an opportunity to promote American leadership abroad and showcase the growth of domestic manufacturing during COP.
The new administration will play an important role in ensuring America can meet its growing energy demand while also expanding our market share internationally.
Trade associations like SEIA also have an important role to play at COP. As the industry experts, SEIA will highlight the opportunities for renewable energy and catalyze the action behind it. SEIA will advocate for investments in scaling solar around the world, and collaborative trade policies that ensure the high-quality infrastructure made in America is available to bolster each country’s solar journey — and ultimately create a more sustainable, secure, and safe world.
This year’s COP comes at a critical moment. Solar and storage continue to break records and beat expectations, but tripling capacity will require tangible outcomes and strengthened international collaboration. SEIA is ready to lead the way for U.S. industry by building strategic partnerships, collaborating on international policy, and laying the foundation for solar and storage to power economies all around the world.
