India’s battery storage potential will be 600 GWh by 2030: Niti report
India will have a battery storage potential of 600 gigawatt hours (GWh) by 2030, and demand for electric vehicles, stationary storage and consumer electronics will primarily drive battery storage adoption, according to a report by Niti Aayog.
The report further states that a consistent regulatory framework incentivizing all stakeholders to participate in the recycling process will contribute to the development of a battery recycling ecosystem in the country.
“Based on our analysis, the total cumulative battery storage potential in India will be 600 GWh by 2030 considering a base case scenario and with segments such as electric vehicles and consumer electronics expected to be key demand drivers for battery storage adoption in India,” it said.
According to the report, the current deployment of lithium-ion batteries (LIBs) in India is dominated by consumer electronics, which includes smartphones, laptops, notebooks, tablets and is expected to grow further with the digitalization of platforms and the integration of technology into everyday life.
“In India, segments such as electric vehicles (EVs), stationary storage and consumer electronics are expected to be major demand drivers for the adoption of battery storage,” the report titled “Advanced Chemistry Cell Battery Reuse and Recycling Market in India”.
The report highlighted that in 2020, energy storage for consumer electronics was the largest market for LIBs, with a cumulative market of 4.5 GWh, although EV sales accounted for around 10% of the total. LIB market (0.92 GWh).
According to the report, between 2010 and 2020, global battery demand grew at a compound annual growth rate (CAGR) of 25% to reach an annual demand of approximately 730 GWh.
By 2030, battery demand is expected to quadruple to an annual rate of 3,100 GWh, he said, adding that this shows a 16% CAGR growth through 2020-2030.
The report notes that transportation electrification and battery energy storage in power grids are expected to be the main drivers of battery demand growth.
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