Battery Energy Storage System Scheme (BESS): The Indian government is promoting the BESS to meet the country’s renewable energy targets and manage peak power demands. The scheme aims for a large-scale storage capacity, supporting India’s net-zero target by ensuring energy security.
Advantages of Battery Storage: Battery storage is essential for harnessing and efficiently utilizing renewable energy. It provides a solution to variability and ensures a stable energy supply, even during non-generation hours.
Financial Aspects and Targets: The BESS scheme involves a significant financial outlay with targeted Viability Gap Funding (VGF) to encourage private sector participation. The aim is to develop a substantial amount of storage capacity by 2030-31.
Cost of Storage and VGF Allocation: The scheme seeks to make stored energy economically viable, with specific costs per kilowatt-hour and plans for disbursing VGF in phases.
Capacity and Demand Balancing: A minimum percentage of project capacity is mandated to be available during peak demand times, contributing to grid stability.
Renewable Energy Integration and Support: The initiative will support the increasing share of renewable energy in India’s capacity, addressing the challenge of supply consistency.
Upcoming Projects: There are upcoming large-scale energy storage projects, contributing to India’s clean energy transition and the national grid’s stability.
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