‘Govt to provide more support for energy storage if needed’ – today news


New Delhi: Centre will provide more incentives for energy storage if required, said Tarun Kapoor, advisor to the prime minister. 

Noting that the production linked incentive scheme for advanced chemistry cell is underway, the top official said: “Going forward we could think of some other support also if required.

Addressing the India Energy Storage Week 2023, he said that storage would be key for India’s energy transition journey and its cost needs to come down going ahead. 

Kapoor stated that the future of energy is dependent on innovations and cost-effective storage solutions, and renewable energy currently accounts for 22-23% of installed capacity, which can be increased to 50%. To go beyond this, India needs to invest in storage solutions that utilize high energy density and safe materials that are available in the country, he said. 

The transition to electric vehicles also requires large-scale storage solutions, and India must be self-reliant and manufacture everything domestically, while also investing in R&D to develop products that suit India’s requirements and materials available in the country.

The event was attended by eminent dignitaries and clean tech leaders from India and other countries. 

Rahul Walawalkar, President of IESA, says: “India is strongly focused towards clean energy transition aiming high for the growth of e-mobility as well as renewable energy. With the vision set by the prime minister, we have a wonderful opportunity to make India a global hub for manufacturing, R&D and adoption of advanced energy storage, e mobility and green hydrogen technology within the coming decades. We have a long way to go but we have a very strong believe that India has tremendous capability and a ecosystem that can contribute for this transition.”

The event witnessed the signing of various MoUs, including a MoU between IESA and Singapore Battery Consortium (SBC) and a MoU Exchange between IESA and The Electronics Sector Skills Council of India (ESSCI). Over 500 world-class organizations from over 25 countries, including the UK, USA, UAE, Australia, China, Germany, Singapore, France, Italy, Israel, and Sri Lanka, and over 60 CXOs from the e-mobility and green hydrogen ecosystem, more than 100 start-ups, over 50 women energy leaders, and more than 8 ministries participated at IESW 2023.

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Updated: 03 May 2023, 10:16 PM IST

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