Cheap batteries for storage, low daytime tariffs, easy grid access will cut power shortage, costs
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Prime Minister Narendra Modi set a 900 gigawatt non-fossil power goal by 2035.
- ✓India currently has 40 gigawatts of solar projects waiting for buyers.
- ✓Experts said, "Dramatically cheaper battery storage makes daytime solar a cost-effective option." Using these batteries and lower daytime tariffs will help fix power shortages and high costs.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Business Line
- Reading Speed
- 5 Minute(s)
- Market Focus
- India Economy
Prime Minister Narendra Modi has put 900 gigawatts (GW) of non-fossil power capacity by 2035, mostly solar and wind, firmly on India's clean-energy agenda. The ambition is reflected in transmission investment plans for the next decade.
This raises three questions. First, how can these goals address power shortages and expensive power purchases by utilities? It is worth noting that, at present, 40 GW of low cost solar projects are unable to sell their power to discoms. Resolving this mismatch is essential to finding buyers for 900 GW.
Second, can a system dominated by solar and wind, as would be the case with a 900-GW goal, deliver reliable electricity at lower cost?
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