Industry Expects Energy Storage to Gain More Ground in 2022

India’s renewable energy capacity is growing exponentially, driven by the ambitious target of achieving 500 GW of non-fossil energy capacity by 2030. Energy storage is expected to play a critical role in India reaching the target.Although the energy storage capacity addition has been negligible through 2021, developers believe that the market will take off in 2022 and expect higher storage deployments in the country.According to Mercom India Research, India currently has only 20 MW of installed battery storage capacity, with 1.3 GW of storage capacity is under various stages of development.The Solar Energy Corporation of India (SECI) and NTPC Limited have announced tenders for 4 GWh of standalone battery energy storage capacity, which is yet to be auctioned. Outlook for 2022 Mercom spoke to executives of storage companies in India to gauge the mood in the market going into…

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