India’s C&I Energy Storage Market to Reach 23-31 GWh by 2032: IESA Report
India's Commercial and Industrial energy storage market is projected to grow from less than 1 GWh in 2025 to 23-31 GWh by 2032, driven by rising power costs, increasing renewable energy adoption and the need for reliable electricity supply, according to a new IESA study, to be unveiled at IESW 2026.
June 19, 2026. By Mrinmoy Dey
The report attributes this exponential growth to rising electricity tariffs, the need for reliable, high-quality power, rapid adoption of renewable energy (RE), cost-optimisation demands, and India’s ambitious decarbonisation goals.
The report titled “India Stationary Storage Market for C&I Applications: Insights till 2032” will be unveiled at the 12th India Energy Storage Week (IESW), taking place July 8-10 at Yashobhoomi (IICC), New Delhi.
Debmalya Sen, President of IESA, said, “India’s C&I energy storage market is at a pivotal moment. The sector is transitioning from backup and peak shaving to a strategic asset for energy optimisation, resilience, and decarbonisation. The insights from this report will help stakeholders shift from reactive power management to proactive energy leadership.”
The study details two growth scenarios: a Business-as-Usual (BAU) path, with ESS reaching 22-23 GWh by 2032, and a Rapid Adoption (RA) scenario, in which market-friendly reforms and technological advances could propel installations to 31 GWh. BAU assumes 5-6 percent annual C&I load growth and 15 percent RE CAGR; RA anticipates 18 percent RE CAGR, reflecting the impact of supportive policy and falling battery costs.
Vinayak Walimbe, Managing Director of CES, added, “With regulatory clarity, proven business models, and advanced storage technologies, C&I consumers can now make smarter, data-driven decisions that drive both cost savings and sustainability. Our study equips the industry with the actionable intelligence needed to capture this historic opportunity.”
Analysing the technology landscape, the report broadly covers lead acid, advanced lead acid, lithium-ion, vanadium-redox flow, sodium-ion, and pumped hydro storage systems, but specific technology analysis is focused on LFP, NMC, VRFB, and Sodium-Ion chemistries. LFP batteries currently dominate, with vanadium-redox flow and sodium-ion chemistries emerging for long-duration applications. The study also explores the shift from backup-centric to application-driven energy storage, with tailored BESS solutions increasingly deployed for open access RE projects, diesel generator (DG) replacements, and rooftop solar integration.
The report also features real-world case studies: DG Optimisation with BTM BESS for Industrial Plant; Solar & BESS at Scale is Replacing Diesel in India’s Leh; Om Shanti Retreat Centre, Bhora Kalan, Gurugram, 2021. The results highlight that a BESS of 1-hour duration that can take over the average load during outage with higher cycling is a better proposition in terms of payback compared to a larger system that can handle peak loads but has less cycling.
Additionally, Solar + BESS can structurally replace diesel even in remote, off-grid, high-altitude conditions. The current PPA tariff is conservatively priced; a modest revision transforms project economics decisively. These case studies highlight BESS viability in outage-prone, DG-reliant settings, where hybrid solar + storage enhances reliability and improves project economics.
It offers scenario forecasts, state-wise regulatory frameworks, technology benchmarking, and strategic recommendations for energy users, developers, investors, and policymakers.
please contact: contact@energetica-india.net.
Hiren Pravin Shah
Managing Director and CEO
Renewable Expansion Without Storage will put Increasing Stress on the Grid: Hiren Pravin Shah
Aakshi Mahajan
Head– Digital Marketing
Integrated EPC Solutions are IB Solar’s Strongest Differentiator: Aakshi Mahajan
Satyen Mamtora
MD and CEO
Transformers to Power Energy Future as Grid Modernisation Accelerates, Says Satyen Mamtora
Vedant Goel
Director
Future of Renewable Infra Will Be Built on Resilient Structures, Not Cheapest Ones: Vedant Goel
Udai Singh
MD & CEO
AI, Digitalisation Will Drive Next Phase of India’s Energy Transition: Schneider’s Udai Singh