Manufacturers, Entrepreneurs and Startups will showcase a comprehensive range of products and the latest state-of-the-art technologies of the entire value chain at the EV & ESS Expo. This is the largest and ideal forum for exhibitors to interact with end-users, decision-makers, consultants & industry experts from across the globe.
EV sector in India and investment outlook
Regardless of the country’s ambitious targets, India’s EV space is at a nascent stage. However, looking at it differently – India offers the world’s largest untapped market, especially in the two-wheeler segment. 100 percent Foreign Direct Investment (FDI) is allowed in this sector under the automatic route.
The government is also prioritizing the shift towards clean mobility, and recent moves to amend the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India (FAME) II scheme to make electric two-wheelers more affordable, is a case in point.
Key Factors Boosting EV Sector
- Foreign Direct Investment (FDI)
- Government initiatives
- Technological advancements
- Infrastructure developments
- Adaption of electric vehicles at a faster pace
- All 2-wheelers below 150CC are proposed to be electric after March 2025
- Increase in demand for fuel-efficient, high-performance, and low-emission vehicles
- Stringent government rules and regulations toward vehicle emission
- All 3-wheelers proposed to be electric after March 2023
- Advancements in Battery Technology lead to higher energy densities, faster charging and reduced battery degradation along with reduced prices
ESS Market in India
Indian Energy Storage Market is expected to grow at a CAGR of 6.1% by 2026. The intermittent nature of renewable energy and the limitations on its ability to ramp up and down based on demand lead to the waste of a certain amount of capacity. To counter this drawback, energy banking has been adopted in the past. Owing to a strong push by the government and a decline in the cost of storage technologies, the year 2019 witnessed a rise in the number of storage tenders. Consequently, in 2020, Industry demanded a clear policy on energy storage in the new electricity law showing the roadmap involving investment incentives, improved storage technology, and realistic targets for developing storage capacity.
The Importance & Benefits of Energy Storage
The importance and attractiveness of energy storage as an integral part of the electrical supply, transmission and distribution systems are receiving increasing attention from a wide range of stakeholders including utilities, end-users, grid system operators and regulators.
- Investment Creates Long-term Reliability
- Save Money
- Improve Reliability & Resilience
- Integrate Diverse Resources
- Reduce Environmental Impacts