India’s energy storage sector is projected to grow five-fold between 2026 and 2032, drawing investments worth ₹4.79 lakh crore, according to a forecast by the India Energy Storage Alliance (IESA). The announcement was made during the 5th edition of the International Conference on Stationary Energy Storage India (SESI) 2025, held in Gandhinagar, Gujarat.
Major Growth Driven by Renewable Expansion and Storage Demand
The National Electricity Plan (NEP) projects that India will require 73.93 GW of storage capacity by 2031–32, up from 16.13 GW by 2026–27. This includes both pumped storage projects (PSP) and battery energy storage systems (BESS), with storage demand expected to rise from 82.37 GWh in 2026–27 to 411.4 GWh by 2031–32.
Gujarat, currently contributing over 30 GW of renewable energy, is targeting 100 GW by 2030. This growth in renewable generation is expected to drive parallel expansion in energy storage capacity.
Storage Costs Down by 75% in Two Years
According to the Central Electricity Authority (CEA), the cost of energy storage systems has dropped significantly—from ₹10 lakh per MW per month to approximately ₹2.5 lakh per MW in just 2–2.5 years. New standards for battery energy storage will soon be released to bring greater clarity to suppliers and users.
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RP Gupta, CMD of SECI, noted India aims for 500 GWh storage capacity by 2030 and 5,000 GWh by 2047—indicative of massive investment potential and innovation opportunities.
Industry and Global Collaboration Taking Shape
The SESI event saw participation from over 200 industry leaders, government officials, and representatives from 10+ partner countries. Key players included MNRE, CEA, SECI, NTPC, Adani New Industries, JSW Energy, World Bank, and others. Discussions focused on upcoming tenders, policy frameworks, and project development.
IESA, founded in 2012 by Customized Energy Solutions (CES), aims to position India as a global hub for R&D, manufacturing, and adoption of energy storage, e-mobility, and green hydrogen technologies.
