Energy storage to hit record high
Auctions discovered a record low tariff of ₹3.13 per unit in solar-plus-storage projects with four hours of storage supply.
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The last discovered record tariff in the same category-with four hours of storage supply- was ₹3.32 per unit.
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Energy storage projects are gaining pace as states opt for round-the-clock energy, fulfil renewable purchase obligations, and manage evening peak demand with support from the new viability gap funding (VGF) scheme for battery energy storage system (BESS).
The power ministry recently launched the VGF scheme for BESS of up to 30 GWh capacity with support from the Power System Development Fund (PSDF). This is in addition to the 13.2 GWh already in place.
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With the new VGF scheme window open for a year, states are trying to make the most of it, according to industry experts.
"Battery storage capacities have been increasing not just in the number of projects being set up, but also in the size of projects," said Debmalya Sen, president, India Energy Storage Alliance (IESA).
Recent bids from Rajasthan, Gujarat, and Maharashtra have shown 2 GWh and 4GWh capacities being shared under the new VGF scheme, Sen added.
Almost a third of the 30 GWh capacity in the scheme has been tendered out.
The tariff discoveries have been supporting the aim to set up higher capacity-projects with 4-hour one-cycle gaining traction and rates falling to ₹3.59 lakh/MW/month from 4.41 lakh/MW/month in six months.
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