![Global Solar Council [logo]](/static/images/gsc-logo-horizontal.svg){kind=logo}
Access to low-cost and long-term financing is crucial for accelerating the energy transition and improving the economic viability and competitiveness of renewable energy.
According to BloombergNEF’s New Energy Outlook, the world needs to spend a total of $8.3 trillion on renewable energy deployment between 2023 and 2030 to align with a global net-zero trajectory by 2050.
Although the world is already investing around $1 billion a day in solar PV, there is still a critical gap in the finance needed to realize an energy system with solar as the backbone, especially in emerging markets.
Climate finance must prioritize channeling financial instruments towards essential solutions that are key to deploying more solar justly and sustainably across the world, such as the scaling-up of supply chain, the development and implementation of solar projects, as well as energy infrastructure upgrades like electricity grid expansion and flexibility measures.
The world needs to spend a total of $8.3 trillion on renewable energy deployment between 2023 and 2030 to align with a global net-zero trajectory by 2050.
GSC’s work on Finance
GSC has created its Finance Task Force which is Chaired by Ms Lin SUN of Jinko Solar with Ms Alina LANGE from Trina Solar as Vice Chair. This group brings together members of the GSC - both national associations and companies - to discuss and address financing challenges and develop positions on these.
GSC also in November 2024 launched its International Solar Finance Group, a dialogue platform comprising banks, investment funds, and solar industry representatives to work together to solve the barriers preventing further mobilisation of capital for solar PV in developed and developing countries.
GSC's new offices in London in Canary Wharf also make it especially well-placed to influence global financial players and interface with both public and private banks.
Want to get involved in our Finance Working Group?
