India's Battery Storage Capacity Set to Surge Nearly 50 Fold by 2032
India’s annual battery storage installations are set to nearly double every year by the 2032 fiscal year, as the renewable energy boom drives increased investment in battery energy storage systems (BESS), a new report by Nuvama has shown. Total BESS capacity installations in India are expected to jump to 302 gigawatt-hours (GWh) in 2032, up from just 6.3 GWh at present, suggesting a compound…
India's annual battery storage installations are projected to double annually by 2032, according to a new report by Nuvama. The country's total battery energy storage systems (BESS) capacity is expected to surge to 302 gigawatt-hours (GWh) by 2032, up from the current 6.3 GWh. This would signify a compound annual growth rate of 91% during the period, according to Nuvama analysts.
India's Central Electricity Authority estimates BESS installations would reach 236 GWh by FY32, while the India Energy Storage Alliance (IESA) predicts a requirement of about 888 GWh of energy storage capacity by 2035-36. Energy storage is crucial for supporting the rapid growth of renewable energy sources and enabling greater grid flexibility, as highlighted by Ashok Jhunjhunwala, Institute Professor at IIT Madras.
In a bid to better manage renewable energy output and reduce curtailments, India plans to introduce a regulation from July 1, 2027, requiring developers of solar and wind energy projects to install battery storage at project sites.
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