Recording of Wednesday, June 19, 2024 | The smarter E Europe 2024 | Conference Program | Language: English | Duration: 4:13 .

Global Solar Council Calls for Major Financial Shift to Achieve Tripling of Renewable Energy by 2030, Highlighting Need for $10-12 Trillion Investment and Equitable Distribution Across Emerging Markets

The session aims to address the need for innovative finance solutions to meet a significant renewable energy goal set by global stakeholders, including the Global Solar Council. The objective is to triple renewable energy capacity by 2030, with solar contributing at least half of this growth, translating into 11 terawatts of renewable energy and requiring $10-12 trillion in investment. While substantial funds are available globally—evident from the $1.4 trillion annually invested in fossil fuels by G20 countries—the challenge lies in redirecting these funds towards clean energy. In 2022, around $1.3 trillion was invested annually in the clean energy transition; however, only about $0.5 trillion went specifically to renewables. Achieving the tripling target necessitates increasing annual investments in renewables alone to at least $1.3 trillion by 2030. Furthermore, equitable distribution of financial resources remains a critical issue as most current investments favor China, Europe, and the US while regions like Sub-Saharan Africa receive minimal funding (only 1% of global investment). The session will explore ways to scale up financing more equitably across emerging markets and mature ones alike through expert insights such as those provided by Tsvetelina Kuzmanova from E3G on sustainable finance regulations in Europe.

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Speaker

Katarzyna Rezza Vega
Head of Women Energize Women
German Corporation for International Cooperation (GIZ) GmbH
Madagascar

Talk of session: Shaping the Solar Landscape: Female Visionaries on Project Funding for PV

Despite the global exponential growth of solar power, challenges currently loom large — from soaring debt costs to dwindling capture prices and escalating curtailment rates. These hurdles threaten to impede deployment growth in the urgent race to triple renewables installation by 2030. The pressure for innovative solutions and rapid action is high, and financing is key. Our session will therefore convene investors, developers and financing institutions to analyze key issues and explore new perspectives on solar finance, with the aim of driving the realization of a sustainable and prosperous future through advanced solar initiatives.

Topics will include:
1. Assessing financing conditions for solar power plants
2. Analyzing the impact of policy shifts on PV project financing
3. Strategizing to enhance solar project financing

This panel discussion is organized by the Bundesverband Solarwirtschaft (BSW-Solar) in cooperation with the Women Energize Women (WEW) initiative. Women Energize Women (#womenenergize) is a campaign for the global empowerment of women in the energy sector by the Federal Ministry for Economic Affairs and Climate Action (BMWK). It is implemented by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) within the scope of BMWK's global project Bilateral Climate and Energy Partnerships and Dialogues. (https://www.womenenergize.org/)

Further Talks of this session:

Regulatory Conditions for Sustainable Financing in Europe

Speaker

Tsvetelina Kuzmanova
Senior Policy Advisor
E3G -Third Generation Environmentalism
Belgium

To Talk

Funding and Developing Solar Power Plants- Economic Factors and Challenges

Speaker

Dr. Konstanze Kinne
Head of Treasury Aquila Clean Energy EMEA
Aquila Capital
The Netherlands

To Talk

Panel Discussion

Speaker

To Talk

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