Masterclass on Developing Advanced Energy Storage Manufacturing in India
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.