Energy Storage Market in India

Energy Storage Market in India

Date of release-February 2024

Solar and wind power supply fluctuates, Energy storage systems (ESS) play a crucial role in smoothening out this intermittency and enabling a continuous supply of energy when needed. Thus, for sustainable renewable energy addition, concurrent growth of ESS capacity is imperative. This report includes an overview of the energy storage market in India, policy support for ESS, Grid-Scale ESS tenders and Auction Analysis, Key participants, Risks & challenges, and expectations for ESS.

Table of Contents

  1. Market Overview
    • Installation trends
    • Technology overview
    • Key Players
  2. Government Initiatives for ESS
    • Production linked incentive (PLI) scheme for advanced chemistry cells (ACC)
    • ISTS charges waivers for ESS projects
    • Energy Storage Obligations(ESO)
    • National Transmission Plan
    • Pumped Hydro Storage(PHS) Guidelines
    • Firm and Dispatchable Renewable Energy(FDRE) Guidelines
    • National ESS Policy
    • Viability Gap funding for ESS
  3. Evolution of Grid Scale ESS Tenders in India
    • Types of Utility scale ESS tenders
    • Utility ESS tender auction and tariff analysis
  4. Scope of Pumped Hydro Storage(PHS) in India
    • Status and outlook
    • PHS potential in India
    • Utility scale tendering in PHS
    • Factors Driving PHS in India
  5. Battery Manufacturing Landscape in India
    • Battery Demand, by sectors
    • Key Players in battery manufacturing
    • Upcoming Li-ion giga-factories in India
  6. Challenges & Risks
    • Technical Challenges
    • Procurement challenges
    • Regulatory Challenges
  7. Market potential and Way Forward
  8. Key players profile (Indian Grid-Scale ESS market)
    • Greenko
    • Renew Power
    • Acme
    • NTPC-REL
    • Tata Power

Note: Quarterly updates are also available for this report. To know more details, write to us at or call at 7428306655

About Us

JMK Research & Analytics is a specialist research and consulting firm focussing on various cleantech segments in India and the Asia Pacific markets including, Renewables, E-mobility, Energy Storage (ESS) and Green Hydrogen.

Based on our in-depth sector experience, strong industry network, we provide key insights and detailed industry information which helps clients develop successful business models and market strategies.

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