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Report on the Economic Viability of Solar Energy and its Contribution to Sustainable Development Goals

Executive Summary

Recent research indicates that solar energy has become the world’s most affordable source of power, a development that is pivotal for achieving multiple Sustainable Development Goals (SDGs). The declining cost is now the principal driver of the global transition to clean, renewable energy, directly supporting international efforts to ensure environmental sustainability and economic development.

Key Findings on Solar Energy Cost-Effectiveness and SDG 7

A study by the University of Surrey highlights the economic advantages of solar power, which are crucial for the advancement of SDG 7 (Affordable and Clean Energy).

• Production Cost: The cost to produce one unit of solar power has fallen to as low as £0.02 ($0.027).
• Market Competitiveness: Solar-generated electricity is now cheaper than electricity produced from coal, gas, and wind.
• Primary Driver for Transition: This low cost is identified as the main catalyst for the global shift towards renewable energy sources.

Global Adoption and Impact on Climate Action (SDG 13)

The rapid expansion of solar capacity demonstrates a significant global commitment to climate mitigation, a core objective of SDG 13 (Climate Action).

1. Capacity Growth: Total installed solar power surpassed 1.5 terawatts globally in 2024, a twofold increase from 2020 levels.
2. Residential Power: This capacity is sufficient to power hundreds of millions of homes, making clean energy more accessible.
3. Foundational Technology: Solar is no longer a prospective technology but a fundamental part of building a resilient, low-carbon energy future.

Advancements in Energy Storage and Infrastructure (SDG 9)

Technological innovation in energy storage is enhancing the reliability of solar power, contributing to SDG 9 (Industry, Innovation, and Infrastructure).

• Battery Cost Reduction: The cost of lithium-ion batteries has decreased by 89% since 2010.
• System Viability: The combined cost-effectiveness of solar panels and battery storage systems is now on par with gas-powered plants.
• Ongoing Innovation: Continuous research, such as studies from MIT and Zhengzhou University, is further lowering costs and improving the efficiency of solar technology.

Policy Recommendations and the Role of Partnerships (SDG 17)

Despite positive developments, strategic action is required to maximize the potential of solar energy. This necessitates a multi-stakeholder approach in line with SDG 17 (Partnerships for the Goals).

• Grid Integration: A primary challenge is the effective connection of solar power generation to existing national and regional energy grids.
• Supportive Policies: Governments must enact policies that support and streamline this integration to build sustainable infrastructure.
• International Collaboration: Sustained commitment and international cooperation are deemed essential to accelerate the global transition to a clean and reliable energy system.

Analysis of the Article in Relation to Sustainable Development Goals (SDGs)

1. Which SDGs are addressed or connected to the issues highlighted in the article?

The article primarily addresses issues related to clean energy, climate action, and the technological innovation required to support a sustainable future. Based on its content, the following SDGs are directly connected:

• SDG 7: Affordable and Clean Energy: This is the central theme of the article. It focuses on solar energy becoming the “world’s cheapest source of power,” its increasing installation globally, and its role in providing affordable energy for homes.
• SDG 13: Climate Action: The article frames the adoption of solar power as a “transition to clean, renewable power” and a key component of a “resilient, low-carbon energy future.” This directly contributes to climate change mitigation efforts.
• SDG 9: Industry, Innovation, and Infrastructure: The text highlights ongoing research and innovation (MIT, Zhengzhou University) that are making solar panels more affordable and efficient. It also points out the infrastructural challenge of connecting solar power “to existing networks and grids effectively.”
• SDG 17: Partnerships for the Goals: The article concludes by emphasizing that “sustained commitment and international collaboration” and supportive “government policies” are essential for a successful global energy transition, which aligns with the core principle of this goal.

2. What specific targets under those SDGs can be identified based on the article’s content?

Several specific targets can be identified from the article’s discussion on solar energy:

1. Under SDG 7 (Affordable and Clean Energy):
   • Target 7.1: By 2030, ensure universal access to affordable, reliable and modern energy services. The article supports this by stating that solar energy costs as little as “$0.027 to produce one unit of power” and that installing panels can bring home energy costs “down to at or near $0.”
   • Target 7.2: By 2030, increase substantially the share of renewable energy in the global energy mix. The article directly addresses this by noting that the “total amount of solar power installed passed 1.5 terawatts in 2024—twice as much as in 2020.”
   • Target 7.a: By 2030, enhance international cooperation to facilitate access to clean energy research and technology… and promote investment in energy infrastructure and clean energy technology. The mention of ongoing research at universities and the call for “international collaboration” align with this target.
2. Under SDG 13 (Climate Action):
   • Target 13.2: Integrate climate change measures into national policies, strategies and planning. The article’s warning that “government policies must support this action” directly speaks to the need for integrating renewable energy strategies into national planning.
3. Under SDG 9 (Industry, Innovation, and Infrastructure):
   • Target 9.4: By 2030, upgrade infrastructure and retrofit industries to make them sustainable… The article highlights the need for this target by stating that “Solar power must be connected to existing networks and grids effectively” to realize its full potential.
4. Under SDG 17 (Partnerships for the Goals):
   • Target 17.16: Enhance the global partnership for sustainable development. The concluding statement that “Sustained commitment and international collaboration will be essential” is a direct call for action related to this target.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

Yes, the article provides several specific quantitative and qualitative indicators that can be used to measure progress:

• Cost of Energy Production: The article states that solar energy now costs as little as “£0.02 ($0.027) to produce one unit of power.” This is a direct indicator for Target 7.1, measuring the affordability of energy.
• Installed Renewable Energy Capacity: The figure “1.5 terawatts in 2024” is a clear indicator for Target 7.2, tracking the growth in the share of renewable energy. The comparison that this is “twice as much as in 2020” shows the rate of progress.
• Cost of Energy Storage Technology: The article mentions that the “cost of lithium-ion batteries… has dropped 89% since 2010.” This is a crucial indicator for the viability and reliability of renewable energy systems, supporting Target 7.1.
• Government Policy and Support (Implied): The statement that “government policies must support this action” implies that the existence and effectiveness of such policies can be used as a qualitative indicator for progress towards Target 13.2.

4. Table of SDGs, Targets, and Indicators

Source: yahoo.com