CareEdge Ratings: India needs over ₹4L/cr energy storage by FY32
India's big push for renewable energy means the country will need to spend over ₹4 lakh crore on energy storage by FY32, according to a new CareEdge Ratings report.
Even though one-half of India's power capacity is now from non-fossil sources, these only deliver 29% of the electricity we actually use, so better storage and smarter grids are essential for making green power work.
India's storage need 411 GWh
By FY32, India's energy storage requirement is expected to reach around 411 GWh, compared with operational storage capacity of around 54 GWh as of June 2026.
Technologies like battery systems and pumped hydro will be key.
While coal still helps fill the gaps for now, the transmission sector is also gearing up with a planned ₹5.19 lakh crore investment between FY27-FY31, despite some challenges, to make sure our future grid can handle way more renewables.