Estimating the Cost of Grid-Scale Lithium-Ion Battery Storage in India

India has announced ambitious renewable energy targets (mainly for solar and wind sources): 175 GW by 2022, 275 GW by 2027, and 450 GW by 2030. However, the capacity value of these variable renewable energy sources is limited without grid-scale energy storage. An increasing number of battery storage projects are being built worldwide, and there is significant interest in storage among Indian utilities and policymakers. However, detailed India-specific cost benchmarks that could help utilities design solicitations and assess costs and benefits have been unavailable.