India's Energy Storage Surge: A Five-Fold Expansion by 2032

India's energy storage sector is expected to witness significant growth, with a projected five-fold expansion by 2032. The sector is poised to attract an investment of Rs 4.79 lakh crore. The expansion aims to boost technological innovations and infrastructure, driven by increased renewable energy capacity and strategic governmental initiatives.

India's energy storage sector is projected to witness a substantial growth, attracting an investment of Rs 4.79 lakh crore by 2032 according to the India Energy Storage Alliance (IESA). The sector is expected to expand five-fold, marking a significant leap in technological advancements and infrastructural development.

During the International Conference on Stationary Energy Storage India 2025 held in Gandhinagar, experts noted the growing demand for energy storage capacity driven by increasing renewable energy projects. The National Electricity Plan forecasts India's storage capacity to rise to 73.93 GW by the year 2031-32, signifying a major role in India's energy ecosystem.

Officials emphasize the importance of strategic investments and innovation, with government and industry leaders participating in outlining policies and projects to support this growth. With the energy storage system costs decreasing and standards being established, India positions itself as a global hub for advanced energy technologies.

(With inputs from agencies.)