Web Exclusive | September 2017
Energy storage market to touch 70 GW by 2022
The market for energy storage in the south Asia region is dominated by India. As per estimates, India could attract investments in the energy storage devices manufacturing to a tune of $6 billion in the short-term. The total energy storage market between 2015 and 2022 in India is expected to go up from 4.4 GW to 70 GW, according to India Energy Storage Alliance (IESA). Out of 70 GW, over 35 GW of demand is expected from newer applications like wind and solar integration, frequency regulation, peak management, transmission and distribution deferral, diesel replacement and electric vehicles. MNRE has set target of 100 GW Solar and 60 GW wind deployment by 2022.