This status report aims to present a snapshot of the current cost of energy storage in India for behind-the-meter (BtM) applications, and project them over the next 10 years to analyse when energy storage will start seeing significant adoption. Based on a detailed cost model for solar PV and energy storage with 50+ parameters & data on battery energy storage systems (BESS) gathered from several vendors in India, we evaluate the levelized cost of solar plus energy storage and standalone energy storage.
Even though as of today, BtM energy storage is not feasible in a lot of cases, we find that this will change fast this decade. By 2025, it will be possible for non-residential consumers to integrate large amounts of battery storage to generate and consume their own energy, enabling a distributed energy future. Along with it, the utilities face an inevitable transition from their traditional roles to distribution system operators.