#BESS
The battery energy storage sector is undergoing a fascinating transformation, and what excites me the most is the emergence of new technologies beyond the dominance of lithium-ion. While lithium-ion batteries currently hold over 90% of the market share, the future of energy storage will be shaped by innovations that address critical factors such as raw material availability and the need for longer-duration storage solutions—particularly those capable of storing energy for 6 to 10 hours or more.
We are witnessing a growing momentum around ‘non-lithium’ technologies like sodium-ion, iron-air, redox flow, and nickel-hydrogen batteries. These alternatives are being tested in various international markets, specifically for their potential to meet the demands of grid-scale applications. Given their promise, I believe that some of these technologies will reach commercial viability within the next 3 to 5 years.
For India, this could be transformative. As the country accelerates its energy transition, the deployment of these next-generation storage technologies will be crucial for managing grid stability and integrating large-scale renewable energy into the system.
Full article here https://www.pv-magazine-india.com/2024/10/03/battery-energy-storage-market-in-india-is-on-the-cusp-of-unprecedented-growth/
82