Figure 1. Recent & projected costs of key grid
“Energy Storage in South Asia: Understanding the Role of Grid-Connected Energy Storage in South Asia''s Power Sector Transformation” by the National Renewable Energy
Since India will thus be a key market of grid-scale energy storage, this review aims to give a holistic picture of the global energy storage industry and provide some insights into India's growing investment and activity in the sector.
India has begun to invest in energy storage and develop policy to support the development of battery storage. The Ministry of Power in India has taken a significant step in promoting the adoption of energy storage systems (ESS) by introducing an Energy Storage Obligation (ESO) alongside the Renewable Purchase Obligation (RPO).
SECI and NTPC are also actively issuing storage-linked tenders. For instance, SECI's 1000 MWh tender attracted bids from leading players like JSW Neo, Tata Power, and ReNew Power. BESS tenders are changing the energy storage development landscape in India by creating competition, developing transparency, and increasing investor confidence.
Ensuring availability of these electrical resources to meet loads which are intermittent and uncertain is becoming a critical port function. It requires investment in multi-vector energy supply chains, energy storage in ports and their associated energy management systems.
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