India’s Energy Storage Market: Deployment Trends, Barriers & Growth Forecasts

Synopsis

India’s energy storage sector is transitioning from pilot projects to large-scale commercial deployment, driven by the rapid rise of renewable energy and evolving grid requirements. How far along is the market in terms of installed capacity, pipeline projects, and regulatory readiness?

• How is India’s energy storage strategy evolving to prioritize national energy security alongside project economics, particularly given that only 16% of current generation capacity comes from energy storage systems while the majority relies on traditional hydro?
• What role should thermal storage and other LDES technologies play in India’s future energy storage mix compared to battery deployments?
• How do the lifetime costs of medium and long-duration energy storage technologies compare in the Indian market context, and what financing mechanisms are emerging to support their deployment at scale?