Energy Storage is the Way Forward to Meet the Growing Power Demand Through Renewables

The demand for round-the-clock power from renewables is on the rise. Given the intermittent nature of renewable energy sources, the time is ripe for India to create an enabling environment to integrate energy storage systems to mitigate challenges.

Energy storage, which is key to realizing the full potential of renewables and making them mainstream, is bound to play a critical role in accelerating clean energy adoption.

Mercom will host a webinar on ‘Energy Storage – Helping Renewables Become Mainstream Baseload Power’ on November 11 to discuss the growing penetration of energy storage and the future potential that the technology offers.

The panelists at the webinar are K R Harinarayan, Managing Director, U-Solar Clean Energy; Harendra Tomar, Leader-Business Development, Sungrow; Daiva Prakash, Senior Development Manager, Product Development-New Energy, Amara Raja Group; and Vallisaranya Guruprasad, Head-Pre Bid for LP and Strategic Products, Tata Power.

Energy Storage - Helping Renewables Become Mainstream Baseload Power

Priya Sanjay, Managing Director, Mercom India, will moderate the session.

You can register for the webinar here.

The panel will discuss the role of the energy storage market in India, highlighting the rising opportunities for investors and assessing the rationale for energy storage in India. It will also suggest critical areas to be addressed.

The Indian government has recognized the role of energy storage in India’s renewable energy scale-up.

In November last year, the government decided to allocate ₹1.45 trillion (~$19.61 billion) under the Production-linked incentive (PLI) program to ten critical sectors over the next five years. Advanced chemistry cell batteries manufacturing was recognized as one of the essential sectors. The cabinet approved the program aiming to achieve 50 GWh of advanced chemistry cell, and 5 GWh of niche advanced chemistry cell manufacturing capacity with an outlay of ₹181 billion (~$2.46 billion).

The Ministry of Heavy Industries has recently invited bids to select manufacturers for setting up production capacities for at least 5 GWh of Advanced Chemistry Cells for energy storage under the PLI program. The last date to submit the bids is December 31, 2021.

Researchers at the National Renewable Energy Laboratory (NREL) have found that energy storage can provide a range of grid services and has the potential to play an essential role in the development of a cost-effective power sector for India. A report by NREL finds battery storage investments to be cost-effective in 26 of the 36 Indian states and union territories by 2030. It forecasts that Jammu and Kashmir, Gujarat, and Karnataka will have over 10 GW of battery storage capacity by 2030.

The webinar will discuss the policy push, investor interest, and demand for energy storage in India, among other important points. You can register for the webinar here.