India s new energy storage industry

Why is energy storage important in India?

Energy storage is pivotal for grid flexibility, balancing power surplus and deficit. The Central Electricity Authority (CEA) projects India will install 34 gigawatts (GW) or 136 gigawatt-hours (GWh) of battery energy storage by 2030.

What is India's energy storage capacity?

As of March 2024, India has reached a significant milestone with its cumulative installed energy storage capacity at 219.1 MWh, or approximately 111.7 MW. This achievement underscores India’s strong commitment to advancing energy storage technologies and enhancing its energy infrastructure.

Which companies are deploying energy storage systems in India?

Renew Power, one of India’s largest renewable energy companies, has recently forayed into energy storage solutions. The company is deploying utility-scale battery storage systems to enhance grid stability and integrate renewable energy into the grid more effectively. 7. Okaya Power Group

How Indian companies are shaping the future of energy storage?

With advancements in battery technology, grid storage, and renewable energy integration, Indian companies are at the forefront of this shift. These companies are making significant strides in shaping the future of energy storage solutions for a cleaner and greener tomorrow.

How will India's energy storage capacity change in 2031-32?

India's energy storage capacity is expected to shoot up 12-fold to around 60 GW by 2031-32 which would play a key role in stabilising the power grid as the country transitions to renewable energy, according to an SBI Research report.

Why is battery energy storage system important in India?

For instance, India’s abundant sunshine year-round makes solar energy a cornerstone of its renewable strategy. Solar power is rapidly gaining traction, and Battery Energy Storage Systems (BESS) are playing a crucial role in the same.