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The energy storage market in India is expected to experience rapid growth in the coming years up to 2033.
The energy storage market in India for stationary storage is expected to experience huge growth in the coming years up to 2033, with an installed capacity of 346 GWh by then, compared to less than 1 GWh currently. This was revealed in a new whitepaper released during the Stationary Energy Storage India (SESI) 2026 conference by the Indian Energy Storage Alliance in partnership with Customized Energy Solutions. The report revealed that the market is growing rapidly, fueled by favorable government policies, declining costs of batteries, and the increasing need for secure and reliable power, thereby validating the growth trends in the Indian market for the battery energy storage market. Currently, India has a healthy pipeline of 92 GWh of battery energy storage system projects under development, as per the forecast for the year 2033.
In the last year, 69 new BESS tenders worth 102 GWh have been issued, representing a surge in grid-scale battery storage trends in Asia. This represents a 35% increase compared to 2024, almost double the previous year’s rate. According to GRID India, the country is witnessing a fluctuation in demand of up to 90 GW, making stationary energy storage capacity in India a priority. The report also claims that the capacity is likely to increase even more to 544 GWh by 2033, creating even more energy storage investment opportunities in India. Pumped Hydro Energy Storage is also witnessing a surge, helping pumped hydro storage expansion, where the capacity is likely to increase from 7 GW in 2025 to 107 GW in 2033.
Government initiatives like Energy Storage Obligations (ESO), Viability Gap Funding (VGF), Electricity Amendment Rules 2025, and waiver of ISTS charges are strengthening the renewable energy storage policies in India and speeding up the adoption of long duration energy storage solutions in India. Business Honor is of the opinion that the latest outlook presented by the Indian Energy Storage Alliance is part of the overall trend towards developing a strong energy storage infrastructure, which will be the backbone for India’s clean and future-ready power infrastructure.
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