India's Clean Energy Push: Electric Vehicles And Battery Storage Lead The Way

New Delhi: As India aims to achieve 30 per cent of electric vehicle sales by 2030, a step forward to becoming a green economy by reducing carbon emissions and increasing the use of renewable energy, the electric vehicle industry has been at the forefront of the nation's mobility revolution. India's renewable energy sector, backed by government initiatives and a robust policy framework, is set to drive the country’s transition to clean energy, with a special focus on integrating battery storage systems. The Narendra Modi government at the Centre has set an ambitious target of achieving 500 GW of renewable energy by 2030, led by solar and wind energy, which aligns with the growing need for efficient energy storage solutions to ensure a stable and reliable grid.

To contribute to the government’s ambitious goal the 17th edition of the Renewable Energy India Expo is set to be organised in Greater Noida along with the second edition of the Battery Show India, creating a comprehensive platform for the renewable energy and electric vehicle sectors to converge.

PM Surya Ghar Scheme Saw 300 Percent Rise In Residential Solar Installations

As per the experts, the battery industry plays a pivotal role in this transformation, with the EV market expected to surge from US dollar 34.8 billion in 2024 to US dollar 120 billion by 2030. Initiatives like the PM Surya Ghar scheme, which saw a 300 per cent rise in residential solar installations, and the FAME scheme for electric vehicles, have boosted solar adoption and laid the foundation for a sustainable energy ecosystem.

Startups and private investments in battery manufacturing, energy storage, and EV technologies are expected to play a crucial role, contributing over US dollar 10 billion in the next three years, further positioning India as a leader in the green energy and battery sectors.

The managing director of the Informa Markets in India, Yogesh Mudras said, “India's ambitious goal of achieving 30 per cent electric vehicle sales by 2030 places the EV industry at the forefront of the nation's mobility revolution, with around 4 million electric vehicles already in use, 95 per cent of which are two and three-wheelers. At the same time, the renewable energy sector has witnessed significant strides, with installed capacity reaching 200 GW as of August 2024, alongside record solar investments and initiatives like the PM-Surya Ghar Muft Bijli Yojana, benefiting millions of households.”

“By bringing together global stakeholders, startups, and policymakers, both platforms are instrumental in driving technological advancements, fostering sustainable practices, and reinforcing India's role as a global leader in energy transformation. The synergy between the renewable energy and battery sectors will continue to shape the nation’s journey towards a clean, electrified future, aligning with India’s long-term vision of sustainable growth and energy security,” he further added.

Mudra asserted that both events will not only spotlight India’s leadership in renewable energy and electric mobility but also act as key catalysts for industry-wide collaboration and innovation.

The 2024 edition of the expo will feature over 700 exhibitors, with 85 per cent domestic and 15 per cent international participation, including delegations from Germany and the Middle East.

The event will showcase more than 850 brands and is expected to attract over 50,000 trade visitors. This year’s key focus areas include Solar Energy, Wind Energy, Bioenergy and Energy Storage.

Alongside the expo, the Battery Show India 2024, will feature over 300 brands, and 75 speakers, and attract more than 20,000 visitors from sectors. The theme for 2024, "Net Zero Strategies, Synergies, and Sustainable Growth," will guide sessions exploring the latest battery sector trends.