As the roof top solar market evolves as part of the ‘100GW solar by 2022’ initiative by the Modi government, India is expected to witness introduction of advanced hybrid inverters and PCS solutions.
The global companies may also respond positively to ‘make in India’ programme and take benefits of localisation potential in India to bring down costs of these solutions, said Anthony Price, director, Swanbarton and a leading energy storage consultant and founder of The Electricity Storage Network.
Price, who was here to deliver the annual lecture on “Power, Energy and Time- electricity storage in a renewable world” organised by The Institution of Engineering and Technology (IET), told FC, “We invest in insurance to protect our assets. But the key to making our energy infrastructure secure is to invest in energy storage. It is a privilege to be able to work with the IET to deliver this message in India.
There has to be intense lobbying, awareness building and influencing on why we need energy storage. There is a huge latent demand for energy storage in India. The benefits and challenges presented by renewable energy generation and electricity storage in the power systems and opportunities presented by it can hardly be over emphasised,” Price added.
He said that the energy storage market in India will be very active and vibrant in the days to come. The new government's ambitious target has largely encouraged all stakeholders to shift their focus to India. Energy storage technologies could play a key role in achieving greater renewable integration.
“The inverter market in the NCR region alone is estimated to be over Rs 6500 crore. You can imagine how big the market would be when you talk of the whole country,” Price told FC on Monday.
“IET is deeply committed to boosting the research pool in India and providing renewed solutions to the issues of energy generation and electricity storage. Renewable energy promises a huge potential, and we need a global perspective to reach that goal,” said Shekhar Sanyal, country head and director, IET India.
(This news story is from Financial Chronicle)
