Market Report
Report Summary Market Opportunity Analysis by Product (Li-Ion Battery, Flow Battery etc.), By Application (Transportation – Electric Vehicles, UPS for Industrial Consumers & DG Replacement for Telecom) & Segment Outlook by 2024
Battery Energy Storage Systems for Off-Grid & Grid Scale Installations in India - 2018
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The storage market is already making sustained gains and is expected to flourish with near term market size of close $160 Billion and grow further to $300 Billion by 2030. Interestingly this entire energy storage market shall see BESS being the largest contributor in terms of share of above 50% globally. This shall be no different in India either and shall not be a surprise that it might stand scaled up to 70-75% in the country. Having said that with India being still in the nascent phase for the BESS there are certain push elements desired for the market gain momentum and unwind it’s entire market potential in the country for there are terrific benefits for its application.
With growing solar PV installations and further gaining up in renewable power capacity additions clubbed with enticing business for electric vehicles in India, the rationale behind the battery energy storage systems (BESS) is certain to embellish and gather momentum in the country.
Key Queries Resolved
- What shall be in-store for India capacity market or energy storage?
- What will be the best storage technology in India?
- What shall be scale of opportunity for small-scale grid integration projects with BESS in India?
- What shall be the opportunity for large scale BESS integration in India & how shall be the outlook
- What shall be region wise opportunity in India for solar PV pairing with BESS?
- How attractive financial returns shall be if companies engage in both small & large scale BESS integration?
- Which areas in India shall be most potent for BESS integration for domestic consumers under solar roof-top scheme?
- What size and scale of opportunity does BESS shall offer in electric vehicles market in India?
- What size and scale of opportunity does BESS offer for Uninterrupted Power Supply to large industrial consumers in India?
- How BESS can be a replacement opportunity for DG Sets in India for Telecom industry?
- What shall be the key barriers & risk to BESS adaptability in India?
- Which company shall leady the BESS market in India till 2024?
Business Case For Battery Energy Storage System In India
- Government of India plans to add 100 GW of solar capacity in the country by 2022 needs storage for making large scale solar power installations completely grid interactive
- Cumulative renewable energy share to go up till 160 GW if India hits the planned capacity & increasing share of renewable in power generation portfolio in the country.
- 40 GW of roof-top installations to be achieved till 2022 demands for small-scale solar PV installations be utilized round the clock
- High adaptability of electric vehicles projected in India and changing dynamics of transportation sector in the country
- Rising electricity demand in India with installed capacity likely to cross 600 GW by 2030 calls for better demand response which BESS can assure
- Falling trajectory of battery prices globally and further fall expected in near term helping cost economics of adaptation of BESS in India
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