India Energy Storage Market 2023-2030

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    1.   The India energy storage market is expected to play a vital role in the country’s transition to a clean energy future. By enabling the integration of renewable energy sources, energy storage can help to improve grid reliability, reduce emissions, and lower electricity costs.
    2. The Indian government has set ambitious targets for renewable energy deployment, and energy storage is seen as a critical enabler for achieving these targets.The government has introduced a number of policies and incentives to support the growth of the energy storage market which will drive the market
    3. Lithium-ion batteries are the dominant technology in the market, followed by pumped hydro storage.Grid-scale storage is the largest application segment, followed by behind-the-meter and microgrid applications.
    4. The declining cost of batteries is making energy storage more affordable and attractive for a wider range of applications. The market is still in its early stages of development, but there is a strong pipeline of projects in the pipeline.
    5. India has limited domestic manufacturing capacity for energy storage technologies, which means that most systems have to be imported. This can increase the cost of systems and make the supply chain more vulnerable to disruptions.
    6. India will aim to improve their domestic manufacturing of energy storage systems to ensure that they have the capability to supply on a global level. This will be one of their top priorities to ensure that they are not lagging behind China amid Geo-political issues 
    7. The Indian government has launched a $1.4 billion energy storage scheme to support the deployment of energy storage systems in the country. The scheme will provide financial incentives to developers and manufacturers of energy storage systems.This will be one of the drivers for this market



    Energy storage in India has gained significant attention and importance in recent years as the country continues to expand its renewable energy capacity. India has been actively promoting the use of renewable energy sources such as solar and wind power to reduce its carbon footprint and meet its growing energy demands.


    However, the intermittent nature of these energy sources poses a challenge for maintaining a stable and reliable power supply. To address this issue, India has been investing in various energy storage technologies.


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    In rural areas with unreliable access to the grid, households and businesses are increasingly turning to small-scale energy storage systems, such as solar-powered mini-grids with battery storage.


    These systems provide a reliable source of electricity, reducing dependence on traditional fossil fuels and improving the quality of life for many residents. Moreover, India is actively exploring advanced energy storage technologies like pumped hydro storage and compressed air energy storage.




    S No Company Name Development
    1 OGO Energy OGO Energy introduces home battery storage options.OGO Energy, an Indian company, has introduced battery energy storage devices with a smart battery management system that was built locally. 
    2 Viability gap funding (VGF)  India introduces a plan for constructing a strong battery energy storage foundation for wind and solar projects. Under a new plan to develop storage capabilities for extra wind and solar energy produced, 4,000 MWh of energy storage facilities will be implemented by FY31.The viability gap funding (VGF) plan was approved by the Union Cabinet in order to build a reliable storage system for extra wind and solar energy generated.


    OGO Energy systems have a modular structure.Battery energy storage systems with capacities ranging from 5.12 kWh to 25.6 kWh have been introduced by OGO Energy. The storage options are designed to provide backup power for domestic applications. 


    Additionally, they can be utilized for gas stations, houses, big residential townships, schools, retail stores, and mobile EV charging infrastructure. They can grow the storage capacity thanks to its modular design, which allows for up to five battery units per module.


    The solutions include a smartphone app for real-time energy consumption monitoring and a battery management system with cutting-edge algorithms that was developed domestically. These have a wide operating temperature range, a CRCA powder-coated shell, battery SOC (State of charge) indicators, and RS485/CAN communication output for monitoring.


    The viability gap funding (VGF)  calls for the development of Battery Energy Storage System (BESS) projects totaling 4,000 megawatt hours (MWh) by FY31.  From FY24 to FY26, a three-year period, a maximum of the capital expenditure will be covered by the VGF.


    Simply expressed, funding will be distributed depending on milestones reached up until FY31, even if the BESS projects will be approved during the original three-year term. Through a competitive bidding process involving both public and private sector entities, BESS developers will be chosen for VGF grants. 


    Since there are no such facilities in the country, what happens if the output of electricity exceeds the demand.  As a result, a plan to build the capacity to store excess renewable energy generated in energy storage devices has been introduced. 


    During peak hours, the accumulated energy might be used to close the supply gap. Additionally, this will aid in lowering carbon emissions and further reducing the nation’s reliance on fossil fuels. 


    The program aims to maximize the use of transmission networks while minimizing waste and enhancing the integration of renewable energy into the electrical grid. This will eliminate the need for pricey infrastructure upgrades greatly. 


    Consumers of distribution businesses will be among the scheme’s earliest beneficiaries, which is a significant factor. firms that use VGF to install BESS infrastructure must provide power to the distribution firms. Other customers can then receive the leftovers. 


    The energy storage scheme allowed for the capacity of energy storage systems to be taken into account for such projects, whether through co-location or integration into an existing storage system. The development of a worldwide supply chain and anticipated price reductions are key factors in the adoption of the BESS. 


    The Indian utilities and developers are unable to scale up the deployment of BESS due to current expenses. A crucial intervention is needed to mobilize the initial wave of BESS projects and enable larger renewable installations to fulfill the nation’s expanding energy needs. This intervention is the VGF scheme for the development of BESS. 


    Additionally, this program will aid in both raising demand for renewable energy and building a renewable energy storage infrastructure in India. The nation has set a goal of meeting 50% of its energy needs with non-fossil or renewable sources strategy could increase the investment development appeal of such projects. 


    Due to its strong performance, dependability, and adaptability, the Epiq Inva Master is a renowned lead-acid battery energy storage system that has attracted attention in the Indian market. The Epiq Inva Master is a product designed and produced by Exide Industries, a well-known name in the energy storage industry.


    It is a response to the urgent issues of energy management, storage, and distribution in a variety of applications, from residential to commercial and industrial settings.


    The modular design of the Epiq Inva Master, which enables simple scalability based on the particular energy needs of a given installation, is one of its primary characteristics.


    This modularity facilitates seamless growth as energy needs increase over time in addition to making initial setup simpler. The Epiq Inva Master can be customized to meet the needs of the application, whether it be a small residential installation looking for backup power during power outages or a large industrial site looking to optimize its energy consumption.


    Intelligent battery management technology is a feature of the Epiq Inva Master system, which improves battery performance and durability overall. This technology aids in the monitoring and optimization of variables including temperature control, charging and discharging rates, and status of charge.


    This technology aids in the monitoring and optimization of variables including temperature control, charging and discharging rates, and status of charge. The technology maximizes battery life and guarantees consistent performance over time by maintaining ideal operating conditions.


    Additionally, the Epiq Inva Master was created with an emphasis on integration and user-friendliness. Users can keep an eye on the system’s condition, energy levels, and other pertinent data thanks to its user-friendly interface.


    The system can also be easily linked with already-built solar power systems, facilitating effective energy storage and use of renewable resources. The Epiq Inva Master has a wide range of operating modes, including grid-connected, off-grid, and hybrid configurations, demonstrating its adaptability.


    Due to its versatility, the system can handle a variety of energy circumstances, from optimizing solar energy self-consumption to acting as a dependable backup power supply during grid failures.


    By facilitating better energy management and use, the Epiq Inva Master helps to promote environmental sustainability by lowering carbon emissions. The system assists in grid balancing and lessens the need for fossil fuel-based power generation by storing extra energy produced during off-peak hours and releasing it when demand is high.


    The management, storage, and use of energy are being revolutionized by the introduction of cutting-edge lithium-ion battery energy storage solutions from ACME Cleantech Solutions, a major leader in the renewable energy and sustainability sectors.


    The Lithium-ion Battery Energy Storage Solutions from ACME offer a number of advantages that help create a more effective, dependable, and sustainable energy ecosystem by utilizing cutting-edge technology.


    Utilizing cutting-edge lithium-ion battery technology is the cornerstone of ACME’s lithium-ion battery energy storage solutions. For their high energy density, quick response times, and long cycle life, lithium-ion batteries are known. These features make them the perfect option for storing and discharging electrical energy in a variety of contexts, from residential and commercial buildings to grid-scale installations.




    The India Energy storage market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2022 to 2030.


    Reliance Industries, India’s largest private sector company, has announced that it will invest $1 billion in energy storage. The company plans to set up a gigafactory to manufacture lithium-ion batteries.


    NHPC, India’s largest hydropower generator, has announced that it plans to build 22 GW of pumped hydro storage projects. The projects will help to integrate renewable energy sources into the grid and improve grid reliability.


    Tata Power, India’s largest integrated power utility, has announced that it will set up a 100 MW energy storage project in Maharashtra. The project is expected to be completed by 2024.


    Even though there are several renewable energy generation projects underway, it is nearly impossible to reach the goal without the involvement of energy storage solutions because they provide flexible grid integration opportunities.


    As a result, the market benefits significantly from projects including renewable energy. Government programmes to encourage the use of energy storage in India are probably going to have the biggest influence on the industry.




    • The integration of renewable energy sources, particularly solar and wind, was a significant driver for energy storage solutions. Energy storage systems help manage the intermittent nature of renewable energy generation, ensuring a stable and reliable power supply.
    • The Indian government has been supportive of energy storage technologies, with various policies and initiatives aimed at promoting their deployment. These include incentives, subsidies, and regulations to encourage the adoption of energy storage solutions.


    • Energy storage systems were increasingly seen as essential for enhancing grid stability and reliability. They can provide services such as frequency regulation, voltage control, and backup power during grid outages.


    • The growth of the electric vehicle market in India also contributed to the demand for energy storage solutions. Battery technologies used in EVs often overlap with those used in stationary energy storage applications.


    • Ongoing research and innovation in energy storage technologies were helping drive advancements in the field. This includes improvements in battery technologies, such as the development of advanced chemistries and materials.




    The biggest market opportunity for battery energy storage systems in India is the country’s ongoing expansion of renewable energy projects. India has set a goal of obtaining  renewable energy capacity.


    Even though there are several renewable energy generation projects underway, it is nearly impossible to reach the goal without the involvement of energy storage solutions because they provide flexible grid integration opportunities.


    As a result, the market benefits significantly from projects including renewable energy. Government programmes to encourage the use of energy storage in India are probably going to have the biggest influence on the industry.




    Due to decreases in the demand for electricity during the lockdowns brought on by the COVID-19 epidemic, the market was significantly impacted. For instance, the epidemic forced  India’s  manufacturing companies to cease operations, which decreased the sector’s overall demand for power.


    The market for battery energy storage systems in India is primarily driven by two factors: the capacity to provide grid flexibility and the falling cost of energy storage technology.


    Uncertainty in the laws governing energy storage operations and ownership, however, may impede market expansion. Due to its favourable chemistry and the relatively low average cost of storage projects, the lithium-ion battery type is anticipated to dominate the market.




    By Type

    o   Mechanical Storage

    o   Electrochemical Storage

    o   Thermal Storage

    o   Chemical & Others


    By Application

    o   Residential

    o   Commercial & Industrial


    By Technology Type

    o   Grid Storage

    o   Transportation



    •   Tata Power
    •   Reliance Industries
    •   Adani Group
    •   Exide Industries
    •   Delta Electronics
    •   Amara Raja Group
    •   AES Corporation
    •   Toshiba Corporation
    •   Hitachi Energy
    •   Siemens Energy
    •   ABB
    •   Sungrow Power



    1. Where is the Energy storage manufactured? What is the average margin per unit?
    2. What is the market share of India Energy storage market manufacturers and their upcoming products?
    3. What are the key predictions for the next 5 years in the India Energy storage market.
    4. What is the average B-2-B Energy storage price in India, by segments?
    5. What are the latest trends in the India Energy storage market, by every segment?
    6. What is the market size (both volume and value) of the Energy storage market in 2023-2030 and every year in between?
    7. What are the key investment opportunities in the India energy storage market?
    8. What is the future outlook for the India energy storage market?
    9. What is the impact of the increasing deployment of renewable energy sources on the India energy storage market?
    10. How is the growing demand for grid flexibility driving the growth of the India energy storage market?
    11. What are the key factors driving the adoption of behind-the-meter energy storage systems in India?
    12. What are the advantages and disadvantages of different energy storage technologies?
    13. What are the key challenges that need to be addressed in order to accelerate the growth of the India energy storage market?
    14. What are the major applications of energy storage in India?
    15. What are the key technologies used in energy storage in India?
    16. Who are the key players in the India energy storage market?
    17. What are the government policies and regulations supporting the India energy storage market?
    18. What are the challenges and opportunities for the development of domestic manufacturing capacity for energy storage systems in India?
    19. What is the role of energy storage in India’s transition to a clean energy future?
    20. How can energy storage help to create jobs and boost India’s economy?
    Sl no Topic
    1 Market Segmentation
    2 Research Methodology
    3 Study Assumptions
    4 Executive Summary
    5 Key Predictions for the India Energy Storage Market 
    6 Average Cost Of Setup Of Energy Storage Units - 2023
    7 Global Energy Storage Market - Overview
    8 India Energy Storage Plant Footprint-2023
    9 Recent Trends and Developments in India Energy Storage Market
    10 Government Regulations towards Energy Storage Sector in India
    11 Government Policy & Incentives towards Cleaner Energy Storage in India
    12 Patents on Energy Storage Device in the Past 5 years
    13 New & Upcoming Energy Storage Grids in India, By Type
    14 Renewable Sector Contribution to Energy Storage
    15 Market Size, Dynamics And Forecast By Type, 2023-2030
    16 Market Size, Dynamics And Forecast By Technology Type, 2023-2030
    17 Market Size, Dynamics And Forecast By Application, 2023-2030
    18 Competitive Landscape
    19 Market Share of India Energy Storage Vendors - 2022
    20 Recent Mergers & Acquisitions in the India Energy Storage Market
    21 Growth Strategy of Major Vendors in the Market
    22 Company Profiles
    23 Unmet Needs & Market Opportunities for the New Vendors
    24 Conclusion
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