Battery storage to jump 6x by 2047

(MNRE).

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The new plan in the works would imply a 6x increase in capacity over the next 22 years.The second person cited above said: “These are consultations for a long-term vision and, along with easing supply constraints, the aim is also to develop local manufacturing capacity in line with the projected demand.”

According to the second person cited earlier, developing a local manufacturing ecosystem for the required demand would involve an estimated investment of $840 billion (775 trillion at current exchange rates), at an approximate cost of €2.5 crore per MWh of energy storage capacity.

China holds the dominant position in mining lithium and cobalt, which are essential in batteries and their components. India’s reserves on these are limited, although it has made some progress in assembling and recycling.