BESS of India to hit 66 GW by 2032 with Rs 5L Cr boost – EQ
In Short : India’s battery energy storage system (BESS) market is set to reach 66 GW by 2032, backed by a ₹5 lakh crore investment. Government policies, including tax waivers and incentives, support this growth. With states like Rajasthan and Andhra Pradesh leading, BESS expansion will stabilize grids, cut CO₂ emissions, and boost India’s clean energy transition.
In Detail : India’s battery energy storage system (BESS) market is set for massive growth, expected to reach 66 GW by 2032 from just 0.2 GW today. A recent report by Avener Capital highlights a Rs 5 lakh crore investment opportunity in this sector.
Widespread adoption of BESS could help India avoid over 2,000 million tonnes of CO₂ emissions, making it a game-changer for clean energy.
Govt policies driving growth
India aims to be energy-independent by 2047 and reach net-zero emissions by 2070, and battery storage will play a key role in achieving these goals. The government has introduced key incentives, including a 100 per cent customs duty waiver on battery imports, a 10-year transmission charge exemption, and production-linked incentives (PLI) for advanced battery storage.
These policies are expected to drive large-scale investments, with major states like Rajasthan (23 GW), Andhra Pradesh (14 GW), and Karnataka (3 GW) leading the way.
A future powered by BESS
With India targeting 500 GW of renewable energy by 2030, energy storage will be crucial for managing power supply and grid stability. The report highlights strategic investments in battery energy storage systems that could lower energy costs to Rs 4.8 per unit.
Major companies are already securing large battery energy storage system projects, signalling strong investor confidence. With policy support and technological advancements, India’s battery storage sector is set for a major transformation.
