Source: The post is based on the article “India’s battery storage potential to be 600 GWh by 2030: Niti report” published in Business Standard on 23rd July 2022.
What is the News?
NITI Aayog has released a report titled ‘Advanced Chemistry Cell Battery Reuse and Recycling Market in India’.
What are the key findings of the report?
Currently, the battery storage market in India is dominated by consumer electronics which comprises smartphones, laptops, notebooks and tablets.
This is expected to grow further with the digitalisation of platforms and the integration of technology in day-to-day life.
The report predicts that by 2030, India will have a battery storage potential of 600-gigawatt hour(GWh) and demand for electric vehicles, stationary storage and consumer electronics will mainly drive the adoption of battery storage.
Further, for battery recycling, a coherent regulatory framework incentivising all stakeholders to participate in the recycling process will help in the development of a battery recycling ecosystem in the country.