Emission norms : the automobile industry currently facing the worst slowdown
If the pollution is brought down by 20-30%, then 1.3 years will be added to the average age of the population in India and in 3 years to residents of Delhi and other most polluted areas of the country.
Under the Paris Agreement, India has made some commitments, which include the country’s greenhouse gas emission intensity of its GDP will be reduced by 33-35% below 2005 levels by 2030 and that 40% of its power capacity would be based on non-fossil fuel sources.
This might compel India to adopt EV or alternative/clean fuel for vehicles. The government understood the need for change and provided a push for electrification of the fleet; it has now even realized the need for a multi-pronged approach to reduce the pollution level.
Electric Vehicle is one of the prime candidates to aid in this scenario. In the last two-three years, India has seen a surge of over 200 startups which are working in the EV ecosystem, apart from the conventional players taking a strong plunge into it.
With electrification at the heart of these innovations in the automotive sector, its expansion into urban infrastructure solutions is mooted to be the next logical step in the sector's evolution. Contemporary smart city transformation is the next big step towards electrified mobility.
Infrastructure implies innovations such as smart building technologies and battery replacements that could expand the purview of what electrification technology could do.
Already, smart poles are being developed to provide EV charging facility.
India has also emerged as one of the largest market for battery energy storage systems and it accounted for 45% of the global market installed capacity in 2018 and the country,alongwith nearby regions is also expected to maintain its top position.
Strong demand for flexibility, due to technological advancements, evolving market conditions, strong research facilities, and supportive policies can fuel further demand for battery storage market to evolve.
Given that future is going to be an EV dominant market, questions are increasingly raised as how the upcoming emission norms can potentially impact the automobile industry currently facing the worst slowdown. more
Battery energy storage market is forecast to grow.
Asia-Pacific (APAC) will be one of the dominant markets for battery energy storage systems over the forecast period 2019-2023.
The fall in technology prices and increasing pace of development in the power market are the primary driving factors for the battery energy storage market to evolve.
With respect to technology, Lithium-ion is and will continue to be, the preferred technology for market deployment.
With countries aggressively promoting the modernization of grids, and developing their capability to handle the demands of the present and future, batteries are being deployed that can create responsive electricity markets, provide ancillary services, and enhance both system resilience and energy self-sufficiency.
Supportive policies and high electricity charges can potentially nudge the market towards renewables and/or storage plus renewables at the end consumer level. As the power sector evolves to accommodate new technologies and adapt to varying market trends, energy storage will play a central role in the transition and transformation of the power sector. more