- In February 2018, an Expert Committee under the chairperson-ship of Secretary, Ministry of New and Renewable Energy, with representatives from relevant Ministries, industry associations, research institutions and experts was constituted by the Ministry of New & Renewable Energy to propose draft for setting up National Energy Storage Mission (NESM) for India. The Expert Committee referred has proposed a draft NESM with objective to strive for leadership in energy storage sector by creating an enabling policy and regulatory framework that encourages manufacturing, deployment, innovation and further cost reduction.
- NITI Aayog and Rocky Mountain Institute’s joint report on India’s Energy Storage Mission has proposed three stage solution approach i.e. creating an environment for battery manufacturing growth; scaling supply chain strategies; and scaling of battery cell manufacturing.
- Energy Storage is one of the most crucial & critical components of India’s energy infrastructure strategy and also for supporting India’s sustained thrust to renewables.
Key areas for energy storage application include:
- integrating renewable energy with distribution and transmission grids;
- setting Rural micro grids with diversified loads or stand-alone systems; and
- developing Storage component of electric mobility plans.