India’s Front of the meter(FTM) energy storage market is forecasted to grow at 119% during 2020 to 2030 to hit 20GWh annual addition in 2030. The market will be driven by the massive renewable energy integration target of 450GW into the grid by 2030, and distribution utility side installations. Presently, the total installed BESS is around 20MWh, and there are several ESS projects of 360MW which is under tendering or construction phase.
In the distribution utility side, the use cases of BESS are many- frequency regulation, peak power management, deviation settlement penalty mitigation, grid deferment are few of them. Due to clear indication of benefits of integrating BESS, several discoms have already initiated BESS projects for integration with distribution grid- e.g., BRPL, BYPL, Tatapower, Tangedco, CESC.
High capex involved in installation of BESS, lack of clarity in renewable+storage tenders, not clear understanding about business case are few factors which deter the market growth in the short term. However, with the government ACC manufacturing programme to incentivize advance chemistry cell manufacturing in the country, the battery cell prices are expected to be in be competitive with the global market, also lithium-ion battery (LFP) battery pack prices are forecasted to drop to $70/kWh by 2030.
What is covered ?
- CES’ FTM Energy Storage Market report covers in detail the most relevant various applications for advance energy storage technologies in India presently, and till 2030. These are a) renewable integration b) Ancillary services c) Distribution utility side ESS.
- Based on production cost modelling of renewable rich states, the requirement of BESS for meeting the respective state renewable targets was analyzed. This data was utilized to forecast the energy storage for renewable energy requirement by state across three scenarios and projected at Country-level.
- The FTM market is a policy driven market hence the report does a deep-dive into central level policies and regulation as well a state-wise policy analysis. All state with a renewable or storage policy is covered in detail in the report.
- Case studies: the report covers case studies of existing BESS projects, latest renewable+ storage tender analysis and global projects in the FTM space to analysis the feasibility of the projects and its benefits to the grid.
- The present stakeholder list across the value chain is also detailed in the report.
- Policy recommendations, and market recommendations are also covered in the report.
Who are key customers?
- Renewable energy companies planning to enter storage space
- Global and local companies planning to bid for ACC who wants to estimate stationary market potential
- Battery companies, System integrators, discoms
- All companies who licensed ISROs Lithium battery technology (e.g., BHEL who has announced that they are bidding for ACC)