The Indian energy storage market did not gain much ground in 2021. However, energy storage developers believe 2022 will witness higher capacity additions.According to Mercom India Research, India has only 20 MW of operational battery storage capacity, with 1.3 GW of storage capacity in different stages of development.India’s renewable energy capacity is increasing rapidly, and energy storage is expected to play a critical role in integrating renewables into the grid. Energy storage is also seen as the answer to help renewables meet peak power demand and ensure supply round-the-clock.The storage sector pinned high hopes on the upcoming Union Budget to be tabled on February 1, 2022.Mercom spoke to several storage developers to know their requirements and expectations from the upcoming Budget 2022 to help the market scale.Import DutiesVivek Bhardwaj, sales head of India GoodWe,…
Tax and Duty Relief Top of the Budget 2022 Wishlist of Energy Storage Companies
