Commercializing Battery Storage for Integration of Renewable Energy in India: An Insight to Business Models

Abstract

The research study focuses on exploring different business models that can be used for the deployment of battery storage in India. It further provides a perspective on the different business models adopted across the globe. It also focuses on the key market drivers that can be considered to build the country's storage ecosystem. The objective of the study was to bridge the gap between technology and commercialization. A comparative analysis of different business models adopted by other countries for battery storage and their relevance in the Indian Context was done. It also considered the business models that have been used in different sectors and looks feasible for the battery storage sector. The study recommends the model of “Trading stored electricity on Power Exchanges or Whole-Sale Market” and the model of “introducing battery storage as a package” as the most suitable models for implementation in the Indian context. Further the study identifies few critical factors for the success of commercializing battery storage in India which are choosing the right business model, knowing the needs of the customers and the Government's stand on policies.