Efficient Storage Solutions can Meet Challenges in India’s RE Programme: Prabhu

Efficient energy storage technology can help meet the challenges in India’s renewable energy (RE) programme, former union minister Suresh Prabhu has said.

Efficient energy storage technology and solutions can help meet the challenges in India’s renewable energy (RE) programme, former union minister Suresh Prabhu has said. India has set an ambitious target of having 175 GW of clean energy by 2022 including 100 GW of solar and 60 GW of wind power.

“India has embarked upon an ambitious target (of adding renewable energy). However, challenges are there, and it can be met with efficient energy storage technology,” Prabhu said while speaking at virtual event India Energy Storage Week (IESW).The IESW, organised by the India Energy Storage Alliance (IESA), is scheduled from November 2-6, 2020.

In his keynote address, Prabhu said, “Storage is going to be a new thrust area. I am happy that we will be discussing energy storage in-depth with industry pioneers, think-tanks, policymakers, global Leaders at the IESW.”

Ministry of New and Renewable Energy (MNRE) Secretary Indu Shekhar Chaturvedi said, “The renewable energy (RE) sector is quite fragmented. It involves numerous sectors within itself. We are moving towards a major share of RE in the electricity mix and will only accelerate further.”

Energy storage is critical for the development of RE, he noted.

The IESW conference is a dedicated effort towards bringing the key stakeholders together to make India a global hub for R&D and manufacturing. The vision is backed by eminent dignitaries from NITI Aayog, Department of Science & Technology (DST), The Ministry of Electronics and Information Technology, and many more.

In September, the IESA had emphasised the importance of policy incentives, business leadership, skilled workforce, and inter-industry collaboration to make India self-reliant in the energy storage space. During a conference on the occasion of the 4th World Energy Storage Day on September 22, 2020, IESA also highlighted the huge employment opportunity presented by India’s energy storage space.

IESA President Rahul Walawalkar had said “India presents a significant opportunity for stationary energy storage technologies. In the next 5 years, we are entering into an unprecedented area, where thermal plants will have to pay down 30 percent which is not an ideal situation. At the same time, we do expect that the market for electric vehicles is set to pick up beyond 2022-24. We are coming up with a new report on e-mobility.”