Key trends and opportunities in the energy storage market in India - August 2021
05 Aug 2021
1 min read
The Government is progressing toward achieving net-zero carbon emissions or carbon neutrality in the next few years. Advancements in 24x7 renewable energy constituting solar, wind, hydro, and other renewable sources are the keys to it. The need to store energy to use it at non-renewable generating hours has grown significantly, and efficient energy storage is the answer.
The Government is progressing toward achieving net-zero carbon emissions or carbon neutrality in the next few years. Advancements in 24x7 renewable energy constituting solar, wind, hydro, and other renewable sources are the keys to it. The need to store energy to use it at non-renewable generating hours has grown significantly, and efficient energy storage is the answer.
24X7 renewable power energy storage demand has picked up significantly in the past few years. The intermittent nature of solar and wind energy makes it tough to have a 24X7 power supply where energy storage can fill this gap by storing power for a few hours during peak time and providing the energy for a few hours during non-peak time.
Globally, five different types of energy storage technologies are in use currently, including mechanical, electrochemical battery, thermal, electrical, and chemical storage. Out of these, electrochemical batteries or Battery Enabled Storage Systems (BESS) in the form of Li-ion batteries are the most commonly used method of energy storage worldwide.