INDIA PUMPED HYDRO STORAGE MARKET

KEY FINDINGS

1.  The India pumped hydro storage market is being driven by a number of factors. The main driver is the increasing demand for renewable energy sources, such as solar and wind power, which are intermittent and require energy storage to ensure reliable electricity supply.
2. The Indian government has set a target of achieving 175 GW of installed renewable energy capacity. This ambitious target is expected to boost the demand for energy storage technologies, such as Pumped Hydro Storage.
3. The Indian pumped hydro storage market is still in its early stages of development. However, the market is expected to grow rapidly in the coming years as the country invests heavily in renewable energy and energy storage technologies.
4. PHS projects are very capital-intensive and have long gestation periods. This can make them unattractive to investors, especially in developing countries like India.  PHS projects require large tracts of land, which can be difficult to acquire in India, where land is scarce and expensive. This is one of the major constraints in the market
5. The India PHS market also faces competition from other energy storage technologies, such as batteries. Batteries are becoming more affordable and efficient, making them a more attractive option for some energy storage applications. However, PHS has a number of advantages over batteries, including its long lifespan, large storage capacity, and ability to provide grid balancing and frequency regulation services.
6. The government of India has introduced new financial incentives for PHS projects and is working to streamline the regulatory process. The government is also investing in research and development to reduce the cost and environmental impact of PHS projects.
7. The increasing integration of renewable energy sources into the electricity grid is creating a need for grid balancing and frequency regulation services. PHS can provide these services, which are essential for maintaining the stability of the electricity grid.
8. Technological advancements in PHS technology, such as the use of reversible turbines and advanced control systems, are making PHS projects more efficient and cost-effective. The cost of PHS technology has been declining in recent years, making it more competitive with other energy storage technologies.

INTRODUCTION

Storage that is pumped PSH (power storage hydropower) is a kind of hydroelectric energy storage. It is a design of two differing elevation water reservoirs that may create electricity when water flows down from one to the other (discharge) and via a turbine. The system also requires power to replenish by pumping water back into the top reservoir. 

PSH functions similarly to a massive battery in that it can store energy and then release it when needed. The earliest examples of PSH usage were discovered in Italy and Switzerland, and PSH was initially utilized in the United States. PSH facilities may now be found all over the world! According to the latest edition of the Hydropower Market Report, PSH accounts for the majority of utility-scale energy storage in the United States. 

America presently has 43 PSH plants and has the capacity to more than quadruple its existing PSH capacity by adding enough additional PSH plants. PSH can be classified as either open-loop or closed-loop. PSH with an open loop has a continuous hydrologic connection to a natural body of water. Reservoirs in closed-loop PSH are not linked to an outside body of water.

The Water Power Technology Office (WPTO) invests in cutting-edge PSH technology and conducts research to better understand and quantify the potential advantages of existing and future advanced PSH facilities. WPTO is actively working on initiatives to evaluate and enhance hydropower and PSH's contribution to grid resilience and reliability through the Hydro WIRES Initiative.

INDIA PUMPED HYDRO STORAGE MARKET SIZE AND FORECAST

The India Pumped Hydro Storage Market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

The Ministry of Power has published draft guidelines to encourage pumped storage hydro projects for sustainable energy storage. With the rising penetration of variable renewable energy (VRE) sources or intermittent sources such as solar and wind into the grid, the ministry stated that there is a need to incentivize technology that facilitate energy storage.

Pumped storage projects (PSPs), sometimes known as big batteries, have been around for a long and are a widely acknowledged technology worldwide. It is typically used to stabilize the system and keep peak power levels stable.

Because of the seasonal uncertainty of renewable energy output, the necessity of energy storage devices like battery storage and PSPs has grown. These projects store significant quantities of energy and release it as needed. According to the government, this technology,

PSPs are made up of two water reservoirs linked by a tunnel or underground conduit at various heights. These projects pump water from the lower reservoir to the higher reservoir when there is more energy output and less demand. When more energy is required, water is pushed from uphill to downhill via a turbine, producing the necessary power quickly.

Pumped Storage Projects (PSPs) are clean, megawatt-scale, domestically accessible, time tested, and globally acknowledged among the different technologies available for solving this storage and ancillary service demand. PSPs are non-toxic, environmentally friendly, and non-explosive. They do not create any dangerous or damaging byproducts and do not cause any disposal issues. The rules for promoting PSPs are based on more than only their use in ensuring grid stability and enabling VRE integration.

INDIA PUMPED HYDRO STORAGE MARKET TRENDS

• Investment in energy infrastructure, including large-scale storage projects, is essential for the development of pumped hydro storage. Government initiatives and private investments in infrastructure development are influencing the growth of the pumped hydro storage market.
• Involvement of the private sector, including independent power producers (IPPs) and energy companies, are driving the development of pumped hydro storage projects. Public-private partnerships will emerge as a trend in developing and operating these facilities.
• Increasing competition in the energy storage market will drive innovation and cost reduction in pumped hydro storage technologies. This, in turn, could make these systems more attractive in the context of India's evolving energy landscape.

INDIA PUMPED HYDRO STORAGE MARKET NEW PRODUCT DEVELOPMENT

• Reversible turbines: Reversible turbines can be used to generate electricity when water is released from the upper reservoir, and to pump water back to the upper reservoir when electricity is cheap. This makes pumped hydro storage systems more efficient and cost-effective.
• Advanced control systems: Advanced control systems can be used to optimize the operation of pumped hydro storage systems. This can help to improve the efficiency of the system and reduce its environmental impact.
• Closed-loop pumped hydro storage: Closed-loop pumped hydro storage systems do not require access to a natural water source. Instead, they use a closed loop system to circulate water between the two reservoirs. This makes closed-loop pumped hydro storage systems more versatile and can be located in areas where water resources are scarce.
• Seawater-based pumped hydro storage: Seawater-based pumped hydro storage systems use seawater in the lower reservoir. This reduces the need for freshwater, which is a valuable resource.
• Underground pumped hydro storage: Underground pumped hydro storage systems place the reservoirs underground. This can reduce the environmental impact of the system and make it more aesthetically pleasing.

INDIA PUMPED HYDRO STORAGE MARKET SEGMENTATION

INDIA PUMPED HYDRO STORAGE MARKET By Type

• Open-loop pumped hydro storage
• Closed-loop pumped hydro storage

INDIA PUMPED HYDRO STORAGE MARKET By Application

• Grid balancing and frequency regulation
• Energy arbitrage
• Black start capability
• Flood control
• Water supply

INDIA PUMPED HYDRO STORAGE MARKET MARKET DYNAMICS

The Ministry of Power has published draft guidelines to encourage pumped storage hydro projects for sustainable energy storage. With the rising penetration of variable renewable energy (VRE) sources or intermittent sources such as solar and wind into the grid, the ministry stated that there is a need to incentivize technology that facilitate energy storage.

Pumped storage projects (PSPs), sometimes known as big batteries, have been around for a long and are a widely acknowledged technology worldwide. It is typically used to stabilize the system and keep peak power levels stable.

Because of the seasonal uncertainty of renewable energy output, the necessity of energy storage devices like battery storage and PSPs has grown. These projects store significant quantities of energy and release it as needed. According to the government, this technology,

PSPs are made up of two water reservoirs linked by a tunnel or underground conduit at various heights. These projects pump water from the lower reservoir to the higher reservoir when there is more energy output and less demand. When more energy is required, water is pushed from uphill to downhill via a turbine, producing the necessary power quickly.

Pumped Storage Projects (PSPs) are clean, megawatt-scale, domestically accessible, time tested, and globally acknowledged among the different technologies available for solving this storage and ancillary service demand. PSPs are non-toxic, environmentally friendly, and non-explosive. They do not create any dangerous or damaging byproducts and do not cause any disposal issues. The rules for promoting PSPs are based on more than only their use in ensuring grid stability and enabling VRE integration.

INDIA PUMPED HYDRO STORAGE MARKET COMPANY PROFILE

• NHPC Limited
• SJVN Limited
• THDC India Limited
• NTPC Limited
• Powergrid Corporation of India Limited

THIS INDIA PUMPED HYDRO STORAGE MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS

1. What are the key factors driving the growth of the India pumped hydro storage market?
2. What are the key challenges facing the India pumped hydro storage market?
3. What are the major trends in the India pumped hydro storage market?
4. What are the different types of pumped hydro storage systems available?
5. What are the major applications of pumped hydro storage systems?
6. What are the key players in the India pumped hydro storage market?
7. What are the government policies and regulations supporting the India pumped hydro storage market?
8. What are the investment opportunities in the India pumped hydro storage market?
9. What is the future outlook for the India pumped hydro storage market?
10. What is the impact of the increasing demand for renewable energy on the India pumped hydro storage market?
11. How is the growing deployment of renewable energy systems driving the demand for pumped hydro storage systems in India?
12. What are the factors that are influencing the price of pumped hydro storage systems in India?
13. What are the key challenges that need to be addressed in order to reduce the cost of pumped hydro storage systems in India?
14. What are the government initiatives that are supporting the development and production of pumped hydro storage systems in India?
15. What are the ethical and social considerations related to the India pumped hydro storage market?
16.  What is the market size of India Pumped Hydro Storage Market?