VMPL
New Delhi [India], August 26: The global energy transition is no longer a distant ambition; it is unfolding right before us. In this shift, lithium-ion batteries, Energy Storage Systems (ESS), and Battery Energy Storage Systems (BESS) are not just supporting technologies; they are becoming the backbone of renewable energy adoption and the future of clean mobility.
India, in particular, is at a decisive moment. With its ambitious target of achieving 500 GW of renewable energy by 2030, the country faces a critical challenge: renewable power is inherently variable. Solar power peaks during the day, wind energy fluctuates with seasonal and geographic conditions, and demand patterns don't always align with generation. Without reliable storage, much of this renewable capacity risks being wasted. This is where ESS and BESS prove indispensable.
Globally, the demand for energy storage is accelerating at an unprecedented pace. The energy storage market will grow to 2,850 GWh by 2040, requiring an investment of over $662 billion. Closer home, India's energy storage demand is expected to touch 160 GWh by 2030, driven largely by grid balancing, electric mobility, and telecom infrastructure.
Lithium-ion technology continues to dominate this transformation. Despite concerns about raw material sourcing, it remains the most efficient and commercially viable solution today. Its scalability, energy density, and cost trajectory make it the preferred choice for both stationary storage (ESS/BESS) and mobility applications. Over the last decade, lithium-ion battery costs have fallen nearly 89%, making it possible to imagine large-scale deployment across industries.
In my view, India's advantage lies in the convergence of three factors:
1.Policy support - Schemes such as the Production Linked Incentive (PLI) for advanced chemistry cells and FAME II for EV adoption are catalyzing local innovation.
2. Private investment - Both global players and domestic companies are setting up giga-factories, ensuring supply security and reducing dependence on imports.
3. Telecom & Mobility demand - With 5G rollout and electric mobility adoption, the need for decentralized, reliable, and efficient storage is no longer optional, it's mandatory.
The bigger question, however, is how India positions itself in the global lithium-ion supply chain. While China currently controls over 70% of global lithium-ion cell manufacturing, India has the opportunity to focus on diversification, through recycling, indigenous R&D, and eventually exploring alternatives like sodium-ion.
My opinion is straightforward: the success of India's renewable future will depend less on how much solar or wind power we can generate, and more on how effectively we can store and utilize it. Without ESS and BESS, renewable energy remains intermittent. With them, it becomes reliable, scalable, and economically viable.
The next decade will define this journey. Those who invest in storage technologies today, whether in infrastructure, innovation, or supply chains, will not only power India's sustainability agenda but also shape the global energy landscape.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
