The India Energy Storage Alliance (IESA) has emphasised the importance of policy incentives, business leadership, skilled workforce, and inter-industry collaboration to make India self-reliant in the energy storage space.
During a conference on the occasion of the 4th World Energy Storage Day on Tuesday, IESA also highlighted the huge employment opportunity presented by India’s energy storage space.
IESA President Rahul Walawalkar said: “India presents a significant opportunity for stationary energy storage technologies. In the next 5 years, we are entering into an unprecedented area, where thermal plants will have to pay down 30 per cent which is not an ideal situation. At the same time, we do expect that the market for e-vehicles is set to pick up beyond 2022-24. We are coming up with a new report on e-mobility.”
He noted that due to persistent efforts by various ministries in the last five years, energy storage has picked up rapidly and the technology advancements have also been accelerated.