December 8, 2022: India’s battery storage sector is at a pivotal second because the world adopts climate-friendly power insurance policies whereas dealing with power provide challenges, says Luminous head Energy Applied sciences within the nation on December 6.
Preeti Bajaj, CEO and MD of the backup energy and photo voltaic tech firm, informed the Worldwide Convention on Lead and Lead Batteries in New Delhi that information she analyzed only a few weeks in the past confirmed that India is on track to see the a compound annual power development. saving solely round 16%.
Bajaj, who took workplace on July 1, mentioned that the prospects for the battery storage business are shiny, as a result of rising reliance and improvement of renewable energy akin to photo voltaic, the influence of geopolitical occasions on the worth of oil and the local weather agenda, he mentioned.
Bajaj inspired battery builders to “navigate the spectrum of chemistries that can create power storage options within the subsequent 5 to fifteen years.
“We’re in a development business that this can be a transformative second and a second the place storage is completely essential worldwide as an answer to energy homes and make sure the stability of the grid.
“If ever there was a time to be within the battery storage market it is now.”
Luminous turned a part of the Schneider Electrical group in 2011. Right this moment, Luminous has seven manufacturing vegetation and greater than 28 gross sales workplaces in India, with a presence in practically 40 nations.
The Indian authorities mentioned final 12 months it was placing billions of {dollars} in money, providing tenders and incentives to battery firms to put in greater than 50GWh of storage over the following few years.
