Battery storage addition rises sixfold to 341 MWh in 2024; cumulative capacity reaches 442 MWh: Report
battery energy storage
capacity in 2024, marking a more than sixfold increase from the 51 MWh added in 2023, according to the 'India's Energy Storage Landscape 2024' report released by Mercom India Research.
With this, the country's cumulative installed battery energy storage capacity stood at nearly 442 MWh as of December 2024.
The report noted that
solar-plus-storage systems
accounted for nearly 60 per cent of the cumulative installed battery storage capacity. This was followed by approximately 36 per cent from other renewable energy combinations with round-the-clock capability, and about 4 per cent from standalone battery energy storage systems. The remaining share came from floating solar with storage projects.
India has also added 4.7 gigawatts (GW) of pumped storage capacity to date.
As of December 2024, Karnataka accounted for 36 per cent of the cumulative installed energy storage capacity, followed by Chhattisgarh with 27 per cent and Gujarat with 17 per cent.
'India's energy storage sector made significant progress in 2024, but it still has a long way to go to catch up with its global peers. The government's mandate to co-locate storage with solar projects is a major catalyst. Requiring a two-hour system covering 10 per cent of installed capacity is a strong, clear directive that has energized the market. It's already translating into market activity, with tenders and auctions gaining traction, along with a growing pipeline of projects. What we're seeing now is the beginning of a market shift with storage becoming central to India's renewable energy strategy,' said Raj Prabhu, CEO of Mercom Capital Group.
According to the report, as of December 2024, India had nearly 4 gigawatt-hours (GWh) of standalone battery storage, over 2 GW of solar-plus-storage, and more than 16 GW of renewable energy-plus-storage projects in various stages of development. The pipeline for pumped storage exceeded 51 GW, with over 37 GW in the survey and investigation phase and more than 14 GW under active development.
Gujarat had the largest pipeline of standalone battery storage capacity under development, followed by Maharashtra and Rajasthan. Mercom stated that favourable provisions in the renewable energy policies of these states, along with annual energy storage obligations in place through FY30, were key factors driving demand.
In 2024, various government agencies issued energy storage tenders totalling nearly 27 GW and auctioned approximately 17 GW of projects, with or without associated renewable energy capacity. Solar-plus-storage tenders recorded a 118 per cent year-on-year increase during the year.
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