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Private Sector | Multi State - India | PID: 203414
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A latest report from the India Energy Climate Center (IIEC) said that co-located solar and battery energy storage system (BESS) deployment can help India avoid the likely electricity shortages in the years to come.
Highlighting the importance for storage, it states, even if 100 GW of new renewable energy is added, evening peak shortages will still occur by 2027. However, it adds, with 50 GW new solar, co-located with 16 GW/62 GWh of storage (~20% of daily solar gen), shortages could be avoided.
To avoid shortages, India has to rely on large-scale solar + storage deployment. The IIEC report also said that this is the main option left to avoid power shortages, as they can be deployed much faster than new thermal and hydro assets.
Over the last 2-3 years, battery storage prices have seen a dramatic reduction in India with standalone battery storage capital cost estimated at ~$200/kWh and co-located battery storage capital cost estimated at ~$150/kWh. Co-located battery storage capital cost has already fallen to ~$150/kWh and will likely drop further by ~15-20% by 2030, the report estimates.
| Updated on: 19 - Sep - 2024
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