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Will India achieve a 365 GW PV generation capacity by 2023?

According to the National Energy Plan (NEP) 2023, India aims to achieve a PV installed capacity of 186 GW by 2026-2027 and to reach 365 GW by 2032. Such a vast PV generation capacity will require corresponding energy storage systems to maintain grid stability, making storage technology a crucial element in the current energy transition.

How India is promoting the adoption of energy storage systems?

India has begun to invest in energy storage and develop policy to support the development of battery storage. The Ministry of Power in India has taken a significant step in promoting the adoption of energy storage systems (ESS) by introducing an Energy Storage Obligation (ESO) alongside the Renewable Purchase Obligation (RPO).

Will India reach 500 GW of non-fossil energy capacity by 2030?

India has set an ambitious target to reach 500 GW of installed non-fossil energy capacity by 2030. However, increasing penetrations of renewables - mostly wind and solar - will require the corresponding deployment of flexible resources - such as energy storage and demand response - to support generation variability.

What is energy storage initiative in India 2023?

The initiative is aimed at encouraging private sector participation in the development of energy storage projects (Singh 2023). The 2023 Budget has committed Rs. 35,000 crores of capital investments towards energy transition, net-zero objectives, and energy security, including energy storage systems (Press Trust of India 2023).

What is the current scenario of battery energy storage in India?

Present scenario of battery energy storage in India India’s stationary energy storage market is currently at a nascent stage. There are many projects, under various stages of construction, mainly for renewable energy integration.

Is energy storage a future opportunity for India?

Energy storage represents a huge economic opportunity for India. Ambitious goals, concerted strategies, and a collaborative approach could help India meet its emission reduction targets while avoiding import dependency.