As the 4th World Energy Storage Day was celebrated, Indian Energy Storage Alliance (IESA) organized unique virtual Global Conference & Expo with the aim to bring together industry leaders, policymakers, academia, researchers, and professionals and deliberate upon the need for nurturing a global ecosystem for energy storage.
The participants engaged over insightful discussions on four critical aspects of the energy storage ecosystem, i.e., policy and government initiatives, stationary energy storage, e-mobility, and latest innovations and developments in the sector.
Narendra Modi, Prime Minister of India, in his letter to IESA said “I am pleased to learn that India Energy Storage Alliances and its partners are holding a digital World Energy Storage Day Conclave and Expo. Energy security and sufficiency are pivotal for self- reliant India. We are constantly striving to ensure that electricity reaches everyone, there is sufficient electricity for everyone, and that our environment remains clean. We are also making sure that our resolve towards clean and renewable energy is taken care of in every aspect of life. For, energy access and energy sustainability, we are focused towards building a robust storage capability in the country. Efforts like Global Conclave and Expo strengthen this vision. The presence of policymakers, technical experts, and other participants from various countries reflects mankind’s commitment to sustainable development.”
Amitabh Kant, CEO, NITI Aayog, said “NITI Aayog is working with the World Bank to pilot various energy storage points and projects across the power sector in India. Battery Storage is the undisputable leader in the overall Energy Storage Portfolio. The potential demand for advance battery storage applications till 2030 in India is expected to reach 230 GW on a Year to Year basis while on a cumulative basis, the domestic market demand of 1116 GWh has been estimated. With high priority accorded to Make in India, the government shall soon launch the incentive schemes to invite global companies through the transparent competitive process to set up Mega Manufacturing plant in advanced technologies areas such as Solar Photovoltaic Cell and Advanced Battery Storage in India. The Government stands by its renewable energy generation target as part of its Paris Agreement. The target is 200 GW by 2022 and 240 GW by 2050. Renewable can become dispatch able replacing fossil fuels.
Moreover, the next wave of job creation will come from energy storage in renewable energy. India has the potential for being the fastest-growing market for electric vehicles and the government is committed to the same with policy framework like FAME II for a smoother transition. The government is set to launch a tender to global companies for developing future solar. India is taking concrete steps to develop a favourable business environment for a greener economy. The coming age is the age of cutting-edge energy storage technology.”
H.E. Upendra Tripathy, Director General, International Solar Alliance (ISA) stated, “One of the most important aspects in energy storage is e-vehicles. In order to promote its adoption, solar cost should be affordable for the masses. Talking about storage economy, the aim is to solarize the storage to generate employment. ISA is closely working with member countries to understand the kind of storage requirements they have. In a first, the World Solar bank is aimed at infusing around $10 billion toward addressing solar projects in the member countries. Storage will play an important role in realizing the ambitious goal of “One World, One Sun, One Grid’ – a term coined by the Prime Minister of India.”
Ghanshyam Prasad, Jt. Secretary, Ministry of Power added, “The day itself talks about the importance of energy storage. Any disruption that takes place in the electricity sector is an opportunity to grow. The renewable energy was introduced in the electricity sector ten years back along with its drawbacks. The very first goal was to achieve 175 GW by 2022. In terms of advantages of batteries, as Ministry of Power, we look at it as grid element ensuring electricity to every household without any interruptions. There are variations as seasonality to renewable sources of power generation. To maintain reliability of power supply, there has to be some source to take care of the variability and storage is the answer to the same. The plan is to integrate energy storage at grid element level in the imminent future.