NITI Aayog and RMI India have published the final report in a three- part series, “Need for Advanced Chemistry Cell Energy Storage in India, Part III”. The report aims to foster a collective understanding among stakeholders for the current status and emerging trends in the Advanced Chemistry Cell (ACC) battery sector. Also, it intends to raise awareness about India’s supportive ACC battery storage programme, most notably the Production Linked Incentive (PLI) scheme for battery cell manufacturing. Earlier this year, the Government of India announced successful bids for the $2.5 billion PLI scheme, which seeks to kick-start domestic manufacturing of ACC batteries. Creating a localised advanced cell supply-chain ecosystem will facilitate India in gaining a competitive advantage in the mobility, grid energy storage, and consumer electronics sectors.
The report examines the PLI scheme for ACC batteries in depth, as well as the roles of stakeholders, the value of public-private partnership and other financing for industry growth, and how to mitigate risks associated with the growth of a new industry. It also introduces the contour of the PLI scheme, looks at key leverage points for maximising the success of the scheme, and explores long-term sustainable growth of a domestic battery manufacturing sector. The policies and incentives proposed in this report could encourage top-tier battery manufacturers to invest in India and guide manufacturers toward breakthrough chemistries and technologies.
Access the report here
