Commercial Sector in India is expanding rapidly at over 9% per annum spurred largely by the strong growth in the services sector. It has been estimated expected land area under the commercial stock (commercial buildings, office parks, malls etc.) in 2030 will be approximately 869 million sq.m., out of which 70% of the building stocks is yet to come up in the country. Key factors supporting growth of commercial sectors in India are increasing urbanization, rapid population growth, strong economic growth, expansion of organized retail sector, flourishing IT/ITES sector, government reforms and policy initiative and rising living standards. Commercial Sector, which includes offices, hotels, hospitals, IT Parks, shopping malls, retail shops etc, is one of the fastest growing sectors of the Indian economy reflecting the increasing share of the services sector in the economy. Considering the high expected growth rate and significant amount of electricity energy consumption, it is one of the important sectors for exploring opportunity for integrating energy storage technologies in order to meet their critical or emergency load.
The Commercial and Industrial consumers reap an array of benefits from installing storage technologies. Some of the key benefits are as listed below:
- Reliability and consistency of power
- Budgetary security for the future
- Promotes higher utilization of energy infrastructure
- Smart grid interconnectivity
- Potential tax incentives
Why join IESA - KPN?
IESA KPN brings the latest advancements in Energy Storage from around the world to India. Specific storage solutions are assessed for their suitability and long term relevance, taking into account the local conditions for a sustainable growth. IESA also has an active dialogue with the concerned state and central statutory bodies in terms of policy regulations and framework to make the overall roadmap conducive and become future ready.