February 28, 2024

We are creating some awesome events for you. Kindly bear with us.

New energy storage technologies for India

According to a press statement released by the Ministry of New and Renewable Energy (MNRE), India’s government is “making concerted efforts” to develop energy storage technologies to manage variable generation from renewable energy sources, including solar power.

In this regard, an Expert Committee, chaired by the MNRE Secretary, proposed a draft called the National Energy Storage Mission (NESM), last year. It is aimed at promoting leadership in the energy storage sector by encouraging manufacturing, deployment, innovation, and cost reduction.

In 2017, the utility-scale deployment for storage technology (excluding pumped hydro storage) was 620 Megawatt-hour (MWh) and the cumulative energy storage volume including pumped hydro storage was 15.3 Gigawatt-hour (GWh). This is according to the International Energy Agency’s report “Energy Storage – Tracking Clean Energy Progress”.

Currently, Australia, China, Japan, Germany, Korea, and the United States are the leading countries in the deployment of energy storage technology.

The NESM draft outlines how India can capture value across the supply chain and accelerate the country’s adoption of renewable energy.

The document said that in line with its aspiration to achieve 100 percent electric vehicle (EV) sales by 2030, India can rise among the top countries in the world in manufacturing batteries.

To do so, however, it will require a strategy designed to overcome India’s relatively weak initial position in battery manufacturing while claiming an increasing share of total battery value over time.

NESM said that India’s market for EV batteries alone could be worth as much as US $300 billion from 2017 to 2030. India could represent more than one-third of global EV battery demand by 2030 if the country meets its goals for a rapid transition to shared, connected, and electric mobility.

Since the battery today accounts for about one-third of the total purchase price of an EV, driving down battery costs through rapidly scaling production and standardising battery components could be a key element of long-term success for India’s automotive sector.

India’s EV mission could drive down global prices by as much as 16 percent to US $60 per Kilowatt-hour (KWh). Given the projected scale of its domestic market, India could support global-scale manufacturing facilities and eventually become an export hub for battery production.

According to an analysis by the India’s Policy Commission (The National Institution for Transforming India– NITI Aayog) and the Rocky Mountain Institute (RMI), domestic battery manufacturing to supply the transition to EVs is an important market opportunity for the Indian economy.

It can potentially bring economic and social benefits from reduced oil imports, improved public health, and increased integration of renewable energy supplies into the electric grid.

This analysis estimates that 25 to 40 percent of the total economic opportunity represented by battery manufacturing for India’s EV ambitions can be captured in India even under the least favourable scenario, where India imports all lithium-ion cells and assembles these cells into battery packs.

As India’s battery manufacturing capabilities mature and supply chains are established, India will have the opportunity to produce both battery cells and packs, while importing only the cathode or its raw materials from mineral-rich regions. In this scenario, India stands to capture nearly 80 percent of the total economic opportunity.

The MNRE said that energy storage is one of the most crucial and critical components of India’s energy infrastructure.

Additionally, the press release said that through various bilateral engagements, India has been encouraging technological cooperation in energy storage. A specific proposal on designing research programme and collaboration projects has been planned under the India- United Kingdom Energy for Growth Partnership.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

Send this to a friend