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. IEEMA in association with India Energy Storage Alliance (IESA) is conducting a two day MASTERCLASS on Energy Storage Technology, Applications & Manufacturing Process at Mayfair Banquets, Worli - Mumbai on 17th- 18th November 2017. This is a unique program to help companies entering into or diversifying in advanced energy storage manufacturing.
India Energy Storage Alliance (www.indiaesa.info), estimates 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 full range of applications covering grid scale energy storage for optimizing 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.
These opportunities are expected to attract investment in 2-4 giga factories for advanced li-ion batteries in India, attracting over $3Billion in 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. At the same time, for every energy storage project, there is requirement for number of standard electrical components including cables, switches, racks, transformers, containers and power conversion system. This can represent at least 30% of the value of the grid scale energy storage project.
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. This could also create export opportunities for other growing markets such as MENA, Africa and
Southeast Asia for Indian companies.
Dr. Rahul Walawalkar, Executive Director, Indian Energy Storage Alliance (IESA) & Vice Chair, Global Energy Storage Alliance (GESA) says, “India is already being considered as amongst the top 3 markets for advanced energy storage after China and USA. In 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. IESA has set a vision of making India a global hub for manufacturing of advanced energy storage systems by 2022. In this context, IESA and IEEMA is hosting a 2 day energy storage master class for Indian companies looking to diversify in energy storage.”