How is India advancing energy storage solutions?

At the heart of this momentum is the strategic push by the Government of India and various state authorities, backed by institutions like SECI, NTPC, and SJVN, to advance energy storage solutions. A landmark initiative includes the approval of Viability Gap Funding for 13,200 MWh of battery energy storage systems by 2030-31.

Why is energy storage important in India?

The technical system characteristics of the Indian power system are favorable for energy storage to reduce operating cost and improve system reliability. Storage can provide energy arbitrage, ancillary services, and potentially defer transmission investments, but existing policy and regulatory barriers may limit these opportunities.

Can energy storage accelerate India's energy transition?

Energy storage has the potential to meet these challenges and accelerate India's energy transition. The potential for storage to meet these needs depends on many factors, including physical characteristics of the power system and the policy and regulatory environments in which these investments would operate.

How much will India invest in battery storage?

Investment in battery storage alone must reach $9-10 billion annually. Fast renewable growth drives exponential demand growth for energy storage in India. The country intends to build 47 gigawatts (GW)/236 GW hours (GWh) of battery storage capacity by 2031-32.

How can Indian policymakers broaden the role of energy storage?

If Indian policymakers want to broaden the role of energy storage in the power system, an important first step is to include energy storage in national energy policies and programs.

How is India advancing Advanced Energy Solutions?

As the world watches, India is progressing advanced energy solutions rapidly. India is setting ambitious targets for deploying advanced energy solutions such as clean hydrogen, energy storage and carbon capture. By 2030, it plans to invest over $35 billion annually in these areas.