Storage will be an important driver of India’s solar market, say analysts.
Battery storage is being tapped as a supplement to the $250 million market for off-grid power in India.
A report out this month from the London-based Climate Group and the Goldman Sachs Center for Environmental Markets concludes storage will be an important component of solar home systems in the country, sales of which are expected to grow at 60 percent a year between now and 2018.
The report, titled The Business Case for Off-Grid Energy in India, identifies solar and storage as a tool for lifting 360 million Indians living off-grid — around 50 percent of India’s rural population — out of energy poverty.
The above is an excerpt of India’s $250M Off-Grid Solar Market Boosts the Case for Battery Storage by Jason Deign for Greentech Media. Image Credit: The Climate Group.
Full Report here.