In Short : According to a study conducted by the Power Foundation of India and the IECC, the nation may save around ₹60,000 crore a year by concentrating on energy storage options. According to the report, by 2032, India will require 97 GW of energy storage capacity.
Encouraging Innovation and Strategic Growth
Over the next seven years, an estimated ₹3–4 lakh crore will need to be invested in order to accomplish this. India’s power infrastructure will be strengthened by this investment, which will lessen the country’s dependency on traditional coal-based electricity.
Maintaining Equity While Developing Technological Capabilities
The power grid can more effectively balance supply and demand with improved energy storage. By doing this, waste would be decreased, electricity costs would be stable, and customers nationwide would have access to more reasonably priced power.
Impact and Significance of Clean Energy
In order to assist India reach its clean energy goals, increasing energy storage will hasten the adoption of renewable energy, reduce the use of coal, and drastically reduce carbon emissions.
About the Power Foundation of India and the IECC
In order to guarantee a sustainable power sector, the India Energy Climate Collaborative (IECC) and Power Foundation of India are committed to advancing the energy transition through research, cooperation, and creative policy proposals.
