India accounts for 17.8% of the global population, yet it only has 0.1% of the world’s battery storage. Elsewhere, we hear this most populous nation is heavily reliant on China for batteries. This could become a strategic loophole in future. But batteries are in the news again in India, as it plays catch up with storage.
Batteries in the News for Renewable Storage
ABC News reports that very few significant users currently rely on renewables and storage batteries in India. However, the battery contribution is growing, with a third of it coming on line during 2024.
One supplier claims, “Our orders are growing exponentially. It’s a really exciting time to be a battery storage provider.” So storage batteries are in the news in India, albeit it from a very small foothold.
We were stunned to learn that such a vast nation only has 100 megawatts of battery storage installed, and running. Although 3.3. gigawatts of hydro power do provide a measure of security.
However, the Indian government seems determined to have 74 gigawatts of energy storage from batteries, hydro power and nuclear energy in place by 2032. Although some experts comment it actually needs to double that amount.
Not All Indian Consumers Are Excited About This
ABC News reports that many consumers in India are still not convinced of the merits of battery energy storage systems. We hear that they are concerned about the cost, compared to burning coal. But others are more forward thinking, it seems.
There’s news of a 5,000-acre battery farm on the cards in Jamnager, Gujurate, while another leading player plans to build a 20 million kilowatt-hour battery factory in the northern region of Jammu and Kashmir.
One noteworthy expert told ABC News it is a myth that clean energy costs more than coal. “Current prices of renewable energy combined with storage are cheaper than new coal,” he insisted. This is our understanding too.
More Information:
Lithium-Ion Battery Dilemma in India
