ISA made claim in the report that Solar energy production cost will reduce by up to 60% by 2050

According to the increasing demand and spread, the cost of solar energy production is likely to decrease by 40-60% by 2050. This has been said in a report of the International Solar Alliance (ISA). The report also states that solar energy is emerging as such a renewable energy source due to its possibilities of expansion and being cost-effective. This situation makes it the center of global energy transition. The report states that "the cost of round-the-clock production of solar energy will fall by 40% to 60% compared to all types of sources by 2050 and it will emerge as a key metric to track the progress of solar energy adoption.

It also presents the contribution of solar energy in reducing 25% emissions of greenhouse gas. Solar energy can decrease the cost of production of electricity by 60% by mid-century. Besides that, the report mentions due to solar energy, three or four times more creation of green jobs is expected in comparison to other energy sources. It is bound to create 27 million jobs globally by 2050. In the process, this will empower not only women but also marginalized communities of the world economy.

According to the report, in low-income countries (LICs), solar energy can help bridge the energy access gap among more than one billion people. The report said The report states that “solar energy can provide energy access to more than 1 billion people globally through a range of grid-connected and decentralized solutions”. The report also emphasizes the need for targeted policies and technological interventions to convert about 2.6 terawatts of existing energy assets to green energy.