India’s lithium ion battery storage industry — which can store electricity generated by wind turbines or solar panels for when the sun isn’t shining or the wind isn’t blowing — makes up just 0.1% of global battery storage. But battery storage is growing fast, with around a third of India’s total battery infrastructure coming online just this year.
A worker walks in front of the 500-kilowatt battery energy storage system inside the Hindustan Coca-Cola Beverages factory in Thiruvallur district, on the outskirts of Chennai, India , Tuesday, July 16, 2024. Team leader K. Sridhar, center, closes the doors after a routine check of lithium ion batteries for a 500-kilowatt battery energy storage system inside the Hindustan Coca-Cola Beverages factory in Thiruvallur District, on the outskirts of Chennai, India , Tuesday, July 16, 2024.
Security staff stand in front of the Hindustan Coca-Cola Beverages factory in Thiruvallur district, on the outskirts of Chennai, India, Tuesday, July 16, 2024. In January this year, energy giant Reliance Industries said it will build a 5,000-acre factory in Jamnagar, Gujarat. And in March, Goodenough Energy said it will spend $53 million by 2027 to set up a 20 million kilowatt-hour battery factory in the northern region of Jammu and Kashmir.
“Clean energy combined with adequate storage can be an alternative to coal. Not in the future but right now,” he said. He added that it’s a “myth” that clean energy is more expensive than coal, as current prices of renewable energy combined with storage is cheaper than new coal. One of India’s unique challenges is that energy needs are growing more rapidly than most nations: the population is increasing andmeans more and more people are using energy-guzzling air conditioning. India’s electricity demand grew by 7% last year and is expected to grow by at least 6% every year for the next three years, according to the International Energy Agency.
Team leader K. Sridhar, center, closes the doors after a routine check of lithium ion batteries of 500-kilowatt battery energy storage system inside the Hindustan Coca-Cola Beverages factory in Thiruvallur District, on the outskirts of Chennai, India, Tuesday, July16, 2024.
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