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RAHUL VERMA, senior associate and
energy economist at Fractal Energy Storage
consultants

The analyst’s lithium ion battery price index has also shown
a fall from $1,000 per kWh in 2010 to $209 per kWh in 2017.
Gupta also highlights the need for policy and regulatory
frameworks to be designed and fine tuned to boost the
confidence of investors to encourage energy storage deployment,
with appropriate financial resources earmarked for meeting
energy storage targets intermittently.
varying seasonally and even day-to-day. “Financial incentives could be provided in initial stages where
He said: “Coping with the summer daytime peak and lower their cost is higher than existing alternative like diesel generator,”
output during winter and at night will mean partly storing the Gupta told delegates. “Domestic energy storage manufacturing
peak electricity supply from renewables for use at night and in needs to be developed for retaining major parts of the storage
winter. value chain in India.”
“On seasonal timescales, this involves renewable electricity
conversion into a suitable form of stored primary energy or fuel.” Promising market
However, the market potential for electrical energy storage in
Changing the energy mix India is expected to mirror that of the global market, which is
While India’s renewable energy ambitions should be applauded, forecast to double six times between 2016 and 2030. Together
news of utility-scale energy storage projects in the country is with US and Japan the country is predicted to install 50% of ESSs
scarce. The 42 MWh of tenders announced by the Solar Energy by 2030, according to Bloomberg New Energy Finance.
Corporation of India, a company of the Ministry of New and Out of 70 GW, more than half of demand is expected from
Renewable Energy, Government of India, is a drop in the ocean. newer applications like solar integration or electric vehicles hence
The country will need storage to provide, among other services, there is a sizable opportunity for advanced storage technologies
peak load management, system flexibility, frequency regulation in the new applications.
and security of supply to balance its grid as the intermittent
nature of more than 200 GW of renewable generation is added ➔ EES INDIA
the power mix.
The one project of note so far is the 10 MWh system at Tata Co-located with Inersolar India and Power2Drive
Power Delhi Distribution’s Rohini Substation. A project by Tata India, ees India is India’s leading electrical energy
Power, The AES Corporation and Mitsubishi Corporation. There storage exhibition and part of the innovation hub
is also an agreement in place to build a 10 MWh energy storage The smarter E India.
facility in Haryana, India, by Panasonic India and AES India. With three parallel energy exhibitions, the event co-
More storage projects will come on line as the cost of storage, vers the entire spectrum of the new energy world.
as well as costs of components associated with energy storage Meet India's key players of the solar, energy storage
like inverters or battery management systems, decreases. But and electric mobility industry!
while component costs are dropping, Rashi Gupta from Vision
Mechatronics, told delegates at last year’s Intersolar India that
cost comparison should be done on the basis of levelized cost of
energy for true comparison. ➔ EXHIBITION QUICK FACTS
Bloomberg New Energy Finance has been analyzing the
numbers on LCOEs for the different technologies since 2009, Dates November 27–29, 2019
based on its database of project financings and work by its Hours 10am–6pm | Wednesday & Thursday
analyst teams on the cost dynamics in different sectors. 10am–5pm | Friday
In that nine-year period, the global benchmark LCOE for solar Venue Bangalore International Exhibition
PV without tracking has tumbled by 77%, and for onshore wind Centre Hall 4
by 38%. Exhibitors 75+
Visitors
10,000+
LCOEs for older established sources, such as coal, gas, nuclear Delegates 500+
and large hydro, have seen only very modest reductions, at best, Speakers 150+
in that time – and in some countries, they have actually increased.