How big is India's energy storage sector?

India’s energy storage sector is poised to attract an investment of Rs. 4,79,000 crore (US$ 56.07 billion) by 2032, as per the India Energy Storage Alliance (IESA). The sector is projected to grow five-fold between 2026 and 2032, driven by the country’s increasing need for energy storage solutions.

Will India's energy storage sector expand fivefold in 2026?

Gandhinagar: India’s energy storage sector is projected to expand fivefold between 2026 and 2032 with an estimated investment requirement of ₹4.79 lakh crore, industry body India Energy Storage Alliance (IESA) said.

Why does India need energy storage?

India's energy storage sector is witnessing rapid growth, driven by a number of factors ranging from escalating energy demand to the shift towards renewable energy and the requirement for grid stability. With India aiming to achieve its ambitious goals in solar and wind energy, the need for energy storage is becoming ever more indispensable.

Why should India invest in battery storage technology?

India is experiencing a tremendous shift to sustainable energy solutions, and there is a large investment of funds causing rapid advancement in cutting-edge storage technology. The aim is to enhance long-term energy storage, establish lithium-ion battery manufacturing, and enhance battery recycling facilities.

Will India energy storage week 2025 be a game-changer?

"The upcoming India Energy Storage Week 2025 is poised to be a game-changer for India's energy storage sector. We anticipate a remarkable surge in investments," Vinayak Walimbe, Managing Director of Customized Energy Solutions, said.

How much does energy storage cost in India?

Ghanshyam Prasad, Chairperson, Central Electricity Authority (CEA), said, “The cost of energy storage systems has already seen a notable reduction, from ₹10 lakh per megawatt per month to approximately ₹2.5 lakh per megawatt over the past 2 to 2.5 years. We will soon release new BESS standards.”