India's Energy Storage Sector Set for Fivefold Growth by 2032

India's energy storage industry is poised to expand fivefold by 2032, driven by strategic investments and government incentives. The sector's growth is crucial for advancing the nation's net-zero goals, with key players like SECI and state governments actively rolling out tenders for new projects.

India's energy storage sector is on track to grow fivefold by 2032, with an estimated investment of Rs 479 thousand crore, according to the India Energy Storage Alliance (IESA). The rapid expansion is largely attributed to significant government support, including Viability Gap Funding approved for 13,200 MWh of Battery Energy Storage Systems by 2030-31.

Various tenders for standalone energy storage systems are being announced by entities such as the Solar Energy Corporation of India Ltd. (SECI), NTPC, SJVN, and state governments in Gujarat, Uttar Pradesh, and Madhya Pradesh. Industry leaders stressed the importance of strategic investments to enhance technological advancements and the infrastructure necessary for a dynamic energy storage ecosystem, as discussed at the 5th Edition of the Stationary Energy Storage India (SESI) Conference 2025.

Addressing the conference, S J Haider, IAS, highlighted Gujarat's ambitious target of achieving 100 gigawatts. Experts, including Arun Mahesh Babu MS and Vinayak Walimbe, emphasized energy storage's key role in managing grid stability and facilitating India's net-zero transition. According to the National Electricity Plan, India will require significant expansions in energy storage capacities by 2026-27 and even more by 2031-32 to meet growing demands.

(With inputs from agencies.)