The green energy storage sector in India is expected to attract around Rs 1.5 to 1.8 lakh crore of investments by 2030, said data analytics company, CRISIL on Wednesday.
With significant strides towards sustainability, India will witness a five-fold growth in green investments, approximately Rs 31 lakh crore, between 2025 and 2030
The green energy storage sector in India is expected to attract around Rs 1.5 to 1.8 lakh crore of investments by 2030, said data analytics company, CRISIL on Wednesday.
Addressing their India Infrastructure Conclave 2025, the leadership team of Crisil Market Intelligence and Analytics said that the increasing demand for round the clock green power among industrial customers to meet their ESG and sustainability- linked goals will be among the key factors driving investments in this sector. Additionally, as battery technology improves, there will be a reduction in the overall costs of power as well as storage, said the firm's global head, energy and sustainability, Rahul Prithiani.
With significant strides towards sustainability in the country, India will witness a five-fold growth in green investments, approximately Rs 31 lakh crore, between 2025 and 2030. This will form a crucial part of the estimated USD$10 trillion investments, that is needed through 2070 to achieve the country’s net-zero goals as per the Updated First Nationally Determined Contribution (NDC) under the Paris Agreement.
Among the Rs 31 lakh crore of expected green investments, around Rs 19 lakh crore will be seen going towards renewable energy and storage. Analyses by CRISIL also suggest that in the upcoming investments scenario, the power and automotive sector will have the highest investment potential. As per numbers, around Rs 4.1 lakh crore will go into transport and automotive sectors and around Rs 3.3 lakh crore into oil and gas.
In order to enable a smooth green transition and support decarbonisation, enhanced policy focus is required. There is a need to support more policies linked to round-the-clock green power, reduction of storage costs as well as to the EV value chain-battery and component manufacturing along with charging infrastructure.
Along with that, the need for a strong focus on energy efficiency with sector-specific roadmaps for hard-to-abate industries, buildings and transportation has also been suggested. Some more key policy actions include developing carbon markets and pricing mechanisms to accelerate industrial decarbonization and attract investments as well as incorporating green and sustainable products into government procurement practices.
Further in terms of mobilising funds to drive green transition, green bonds and credit schemes supporting clean energy projects needs to be accelerated, ESG and climate disclosure frameworks needs to be adopted among corporate to access global climate funds and incentive support for emerging technologies such as carbon capture, utilization and storage, green hydrogen, battery storage and R&D investments needs to be facilitated, the data analytics company said.