MNRE’s National Energy Storage Mission to be ready this fiscal

After a Solar and Wind Mission, the government now plans to launch a National Energy Storage Mission.

The government is looking to establish this mission in financial year 2018-19.

An official told BusinessLine, “The Ministry of New and Renewable Energy has set up the Energy Storage Expert Committee to propose creation of the National Energy storage Mission for India. The committee has a stringent time line of four months to release the draft National Energy Storage Mission.”

“Stakeholders that are a part of the committee have been asked to ready the draft by April end or early May to get it vetted by the government before seeking public consultations on it,” he added.

Speaking at an industry event, Minister of State (Independent Charge) for Power and Renewable Energy RK Singh said, “We need a viable commercial plan for storing renewable energy and we will be able to significantly cut down import of fossil fuels once the storage of renewable energy is commercially viable.”

The NITI Aayog has proposed a three-stage solution for promoting battery manufacturing in the country.

The incentives on offer include land grants for direct awarding of land free of charge or at highly discounted cost to companies to develop manufacturing capacity.

Sales and use tax exemptions, or tax credits per job created and lowering the number of permits required or making them available through just one or two “clearing house” agencies by lowering bureaucratic hurdles have also been proposed.

Before scaling up the battery manufacturing facilities, the NITI Aayog has insisted on developing a common technological roadmap for the battery manufacturing industry.

This will allow consistency and easier adoption of the electric vehicles with minimal modifications in charging stations.

Source- The Hindu Business Line