India's energy storage industry (ESS, battery, etc.) trends and rise background

India is rapidly charging: India's energy storage industry (ESS, etc.) trends

Currently, India procures 60% of its energy production from traditional thermal power plants, but imports most of its raw materials such as oil and gas, so it is highly dependent on external energy. However, as uncertainty in the global distribution network has recently increased and 'carbon neutrality' has become a hot topic around the world, the Indian government is also trying to reduce its dependence on fossil fuel energy. In 2021, the Indian government announced a plan to produce about 500 GW of renewable energy by 2030, and to procure 40% of total electricity production from renewable energy sources such as solar and wind power. (For reference, it is said that 1 GW of capacity can supply electricity to 1 million households in India for 1 hour)

 

 

 

However, renewable energy has one fatal drawback. The point is that it is difficult to artificially adjust production capacity as in power generation methods such as thermal/nuclear power because power is generated by using the power of nature. Therefore, in order to maximize the use efficiency of renewable energy, 'energy storage' technology that stores irregularly generated power and distributes it as needed later is essential. Likewise, it is important to increase the power generation capacity itself in order to achieve the long-term goal of the Indian government mentioned above, but it is important to secure the 'energy storage' technology that can accumulate the energy produced and connect it to the grid stably in the future. that is most important

 

 

 

A technology that can solve these problems is the 'Energy Storage System', which has recently been attracting attention worldwide. The energy storage system refers to a system that stores the generated electricity in a physical/chemical form so that it can be used later, and it is divided into various sizes and types according to the method. There are hydroelectric power generation, flywheel, compressed gas storage, and battery methods, among which the most recently used battery method also represents ESS. Therefore, the Indian government is also keen to introduce a 'Battery Energy Storage System (BESS)' for the stable establishment of renewable energy.

 

India's battery-type energy storage system (BESS) introduction trend for the establishment of renewable energy

 

 

 

In the past few years, some power generation sectors, such as hydroelectric power in India, have introduced various energy storage systems (ESSs) into their power plants. Among them, the battery method (BESS) shows the highest efficiency and is expected to be adopted most actively in the future. According to a report by Niti Aayog, an advisory body to the government of India, the BESS market in India is projected to grow from a minimum of 26 GW/104 GWh to a maximum of 65 GW/260 GWh by 2030. In June 2021, the Indian Ministry of Electricity announced that the weekly transmission fee would be exempted by June 2025 on the condition that more than 70% of the annual electricity for charging the BESS be procured from eco-friendly energy sources (solar power, wind power, etc.) said. Through this, it is a plan to encourage several states in India to introduce their own BESS and eco-friendly power generation facilities. In line with this, NTPC Renewable Energy, a subsidiary of the National Thermal Power Plant Corporation (NTPC) of India, is also conducting an international bidding to introduce BESS to be applied to the Inter-State Transmission System. When this system with a maximum capacity of 500MW/3,000MWh is introduced, it is expected that electricity can be supplied stably throughout India at any time.

 

 

 

India Solar Energy Corporation (SECI) also placed an order for a large-scale project to build a solar power facility with a capacity of about 100 MW and a BESS with a capacity of 120 MWh. project in progress. In addition, in August 2021, the Indian government announced its intention to install a large-scale 13GW BESS in the outskirts of Ladakh, and in September the very next month, a 14GW-scale BESS was installed outside Kutch. announced that it would In addition, in September 2021, the Solar Energy Corporation (SECI) of India raised a bid to introduce a 1000MWh BESS, and in the long term announced that it would install a 4000MWh BESS at a local power distribution station.

 

 

 

Meanwhile, in October 2021, the Indian government and the Ministry of Electricity tried to come up with a unified energy storage policy by gathering opinions from stakeholders in the relevant field, but no specific plan has been released yet. The Central Electricity Regulatory Commission (CERC) is also discussing ways to regulate energy storage systems. Experts point out that if the government-led governance in this field is established transparently, it will help attract more investment in the future and lead to long-term growth.


Tags:

Comments (0)

iDeal Trade cheating honest users. idealtrade.co honest broker reviews

Detailed analysis of idealtrade.co scammers! Protect your money from scammers! Honest feedback from victims.

Trader Platform real reviews - tipranks.trader-platform.com SCAM!

From time to time there are brands offering brokerage services in the Forex financial market. In order for customers to know who they can trust, our experts have written a review of the Trader Platform operating in the UK.

Umarkets: cheating users. umarkets.biz broker reviews

How does umarkets.biz cheat customers? Detailed analysis of the work of the broker. Protect your money from scammers!

Hubblebit scam, hubblebit.com reviews

Hubblebit is scamming Forex traders. How does cheating happen? Detailed review on our portal.