Vineet Bhatia, Executive Director, of Energy and Renewables at Grant Thorton, predicts that India's battery market will grow rapidly, with a CAGR of 25% by 2027, presenting a US$15 billion market opportunity.
Pankaj Sharma, co-founder of LOG9 Materials, a battery company, said that batteries are very important. He said that his company has shipped over 5,000 advanced batteries, including a new battery that can go 50 miles on a single charge. This battery is also safer and can handle heat better.
Ketan Chitnis, Business Head, Advanced Cell, L&T Energy, compared the complexity of lithium-ion battery manufacturing to building a spacecraft, citing electrochemistry and data analytics as two key challenges. Despite these difficulties, the industry is on track to achieve a production capacity of 250 GWh by 2030.
Experts say that we need to invest over US$3 trillion in renewable energy to fight climate change. N Janaiah, who is in charge of renewable energy in Telangana, India, says that green hydrogen, energy storage, electric vehicles and solar power are important for the future. He says that we need to work together as a global community to make renewable energy a reality.