The IESA claims the Indian energy storage market is gearing up for large-scale adoption, saying, “The country is poised to adopt advanced energy storage technologies that can act as enablers for 21st-century electric grid and transition to eMobility.”
They estimate the market opportunity to be 50-70 GW (i.e. 150-200 GWh in terms of energy requirement) by 2022. Opportunities for energy storage in India cover a full range of applications covering grid-scale energy storage to providing batteries for the electric mobility program, where India is targeting to move to all EVs by 2030.
According to the group, these opportunities are expected to attract investment in 2-4 Giga factories for advanced Li-ion batteries in India, attracting over $3billion in investments over the next 3 years. Already, over 1 GWh of annual assembling capacity is being set up for converting imported Li-ion cells into battery modules by various Indian companies.
IEEMA and IESA are working closely to help create awareness about this growing opportunity so that Indian manufacturers can evaluate their existing capabilities to be part of global supply chain for energy storage ecosystem. Also, some of the companies may be able to diversify and develop new manufacturing capabilities considering the tremendous scope for growth.
Shreegopal Kabra, President IEEMA, opines, “There is a large opportunity emerging in electric vehicle and changing infrastructure space in India. Indian companies should grab this opportunity to enter into new business verticals to create a large sustainable energy storage market. With the development of local ecosystem and skill training, energy storage will continue to have accelerated adoption in India in coming years. This should also help companies who are considering setting up manufacturing in India.”
“India is already being considered as amongst the top three markets for advanced energy storage after China and USA. In the recent past, India has missed the manufacturing opportunity while adopting technology transitions such as cellular telephones and solar energy. But we still have time to build a world-class manufacturing infrastructure for advanced energy storage,” said Dr. Rahul Walawalkar, Executive Director, Indian Energy Storage Alliance (IESA) and Vice Chair, Global Energy Storage Alliance (GESA).
The participants at the masterclass will get to know about the complete range of energy storage technologies including advanced lead acid, Li-ion batteries, flow batteries, flywheels, ultra-capacitors and other emerging technologies. Industry experts will provide insights into various key applications that will drive the adoption of energy storage in next 3-5 years which includes Solar, Micro-grids, Diesel usage optimizations and electric vehicles.
