In the next decade, Energy Storage Systems (ESS) is tipped to make its mark in the power industry. The most recent standalone ESS tenders from Solar Energy Corporation of India and NTPC are poised to increase capacity and augment the growth of the regional ecosystem.
India’s goals for renewable energy will depend heavily on energy storage solutions and not just home-based energy storage but grid-level storage systems. This will require strong regulatory backing, including a time-based target.
ESS: New Business Model For the Industry
Future tenders for energy storage systems will probably include new business models like energy trading, emphasizing alternative technologies, and demand for the use of locally made batteries.
The present auctions confront several technical, procurement, and regulatory difficulties because ESS technology is still in its infancy in India.
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