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The race to renewables is a topic that has gained a lot of importance in recent times. Storing renewable energy is as important as generating it. This combination of storing and generating can unlock a slew of economic, resilience, and sustainability benefits that go beyond what solar can provide on its own. The article takes you by the different aspects of solar-plus storage systems in India.
What is Solar + Storage ?
Solar-plus storage systems combine a battery with a new or existing solar system to boost the system’s value. Solar alone provides low-cost energy from a sustainable source, but without a battery, its utility at night or on cloudy days is limited. The surplus electricity generated during sunny days can be saved in a battery for future use, in times when the sun is not shining, peak demand costs are high, or the grid is down by the means of combining solar with a storage device.
Benefits of Solar + Storage
You may lower your home’s carbon footprint and bring it closer to self-sufficiency by installing solar batteries. Anyone who wants to “become green” and reduce pollution should do so. Solar energy systems emit far less pollution today than traditional fossil fuels, and they can help a home utilize fewer resources in the future. Solar panels and battery storage systems, unlike generators, do not produce noise pollution that will irritate your neighbours. This is a one-of-a-kind benefit, and it is a terrific way for anyone who already owns a generator to upgrade it. One of the most significant advantages of energy storage systems is that they can help you save money on power. You will avoid the expenses connected with electricity suppliers, develop self-sufficiency, and conserve the electricity you generate if you back up your home with a battery system. All of these things are significant perks that the merger of solar and storage brings along.
When rooftop solar and storage are combined, India will have a huge opportunity because the combination will soon be economically viable. According to a new report from the Institute for Energy Economics and Financial Analysis, Indian policymakers should plan for rooftop solar-plus storage rather than rooftop solar alone because the combination is increasingly cost-effective for electricity generation when compared to grid supply and diesel generators. Energy storage deployment in India is still not a viable alternative because the rates for a standalone integration of storage technologies into the grid are not competitive. The numerous value stacks that provide storage revenue streams have yet to be seen in India. Large-scale storage deployments will not be possible till then. As solar energy penetration into the Indian grid grows, grid-scale batteries will become increasingly important. Attempts must be made to estimate the future capital costs and encourage large-scale solar-plus-storage uptake.
Current Projects In India
While the advantages of this hybrid system are extraordinary, a lot of solar corporations in India have started to realise those benefits and have taken up multiple projects to make the most out of them. For instance, a Solar Energy Corporation of India is to build a 100 MWac solar plant with 50 MW/150 MWh of battery energy storage in the state of Chhattisgarh. There are various such projects which have been recently established and there are many still in the pipeline of various corporations. India, which aims to install 100 GW (gigawatt) of solar capacity by 2030, is also focusing on storage-based projects to address solar PV’s power intermittency.
Market Outlook And Trends
Energy storage that is both efficient and cost-effective, as well as optimal hybridization, are critical for assuring the spread of renewable power generation on both the grid and microgrid scales. India’s energy storage market lags well behind that of the United States, Europe, and China. Despite the high demand for energy storage, the lack of a policy framework has stifled the growth of the battery energy storage business. New value streams in grid-balancing, ramping, peak-shifting, and frequency regulating capabilities, according to energy storage companies, must be developed with the correct legislative climate and appropriate government assistance to establish a stronger economic case for batteries. As a result, the penetration of renewable energy in the Indian market will increase dramatically.
The market potential for energy-storage devices is growing as solar energy becomes cheaper and more commonly used. The issue is to make storage more economical as well, with lower-cost batteries and better management and integration techniques. Of course, the goal is to ensure that the US electric system can deploy enough electricity to accommodate everyone during peak times at a reasonable cost, ensuring the resiliency of the grid. On the way to realise the renewable energy targets, India aims at deploying enough electricity to accommodate everyone’s needs during peak times at an affordable price while maintaining system dependability.