Industry body India Energy Storage Alliance (IESA) says large-scale adoption of energy storage is expected to attract an investment of over $3 billion in next three years.
These opportunities are expected to attract investment in 2-4 giga factories for advanced li-ion batteries in India, attracting over $3 billion investments in 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.
The Indian energy storage market is gearing up for large scale adoption. India is one of the largest markets for lead acid batteries with annual sales of $6 billion. India is now poised to adopt advanced energy storage technologies that can act as enablers for 21st century electric grid and transitioning to eMobility.
IESA estimates the market opportunity to be 50- 70 GW by 2022. “Opportunities for energy storage in India cover full range of applications covering grid scale energy storage for optimizing Transmission and Distribution (T&D) investments and enabling renewable energy integration, to providing energy access through microgrids to over 20 crore people, to providing batteries for the ambitious electric mobility program where India is targeting to move to all EVs by 2030
In a bid to promote energy storage, IESA is partnering with the Indian Electrical and Electronics Manufacturers’ Association (IEEMA). They are jointly conductiong an event in Mumbai on 17 and 18 November 2017.
The participants at the IESA-IEEMA event will get to know about complete range of energy storage technologies including advanced lead acid, li-ion batteries, flow batteries, flywheels, ultra-capacitors and other emerging technologies