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GoodWe’s Outlook On The Budget for Energy Storage Sector – Vivek Bhardwaj, Sales head at GoodWe India


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Goodwe’s outlook for the energy storage sector in India going into 2022 following the events of 2021.
GoodWe is very optimistic about energy storage finally taking off in India for the year 2022. If the right policies are announced, in line with expectations, then a 1GW+ decentralized hybrid storage inverter is expected to be installed by 2023.  

The possibility of energy storage costs going down in the coming year.
The prices of energy storage systems are already very competitive. The levelized price using of GoodWe storage systems is allowing global customers to consume ZERO grid power, through self-consumption, ‘peak shaving’ and ‘time of day’. In India, with our 50KW PV-
storage system wants to replace all Diesel Generators due to the high price of diesel and create a 1GW market. The key input materials for GoodWe like IGBT and chips are already becoming more expensive and not expected to do go before 2023. Unlike solar panels where
the polysilicon prices can go down drastically, our electronics are more driven by performance and intelligence.

Company’s plans for the coming year.
GoodWe is the world’s largest decentralized energy storage manufacturer by the world by no of units sold. We have an installed base of 1GW+ in India and are poised to take the majority market share of hybrid inverters. We have proof of concept installations in India using our hybrid storage inverter where the customers want to be “ off the grid in self-consumption with PV”.  India is expected to be driving the storage market for APAC for GoodWe, with the largest team amongst storage manufacturers.

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The issues in the energy storage, the Indian government should focus on in 2022.
If the government passed the Electricity Amendment Bill 2021 it will allow delicensing of distribution, letting private firms enter distribution and compete with discoms. This will give more choice to customers and allow decentralized storage technologies to take off where homeowners will want “self -consumption”. Unprepared to handle complexity, the government is giving too much attention to simplistic centralized storage technology (MW-hr) compared to decentralised storage technology. The latter allows generation and
consumption of energy at some point, increasing efficiency and can save India billions by avoiding adding more transmission infrastructure.

Is India ready to embrace the energy storage sector at a national scale?
There is an urgent need for embracing storage technology else it will be too late and India will be a global exception. With big investments in cells and battery manufacturing Reliance (Na -Ion), Exide (LFP), will be ultimately mated with smart inverters like GoodWe and be called an ESS. So the ground in India is already prepared !!!  In terms of features, decentralized storage inverters are the same or more complex than centralized storage inverters.

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The level of interest of international players in the energy storage market in India.
GoodWe as an international player has been supporting the Indian market for more than 5 years and with 1GW+ installation. We have local product development and service. As an equipment supplier, we are working with relevant private and government bodies creating regulations and frameworks. Alongside, we are working with leading Indian developers & creating solutions of solar – storage to be offered in OPEX mode. There is hesitancy in signing PPAs using storage, due to new technology inhibitions but it is expected to be
overcome soon.

Expectations of the storage market from the upcoming budget of the Government of India. 
The successful take-off of the Indian storage market depends on reliable equipment suppliers. The government needs to understand that a hybrid energy system is very complex and cannot be compared with UPS which has a local manufacturing footprint. We spend a lot
on R&D which needs a global market and 25GW+ manufacturing to sustain this business.

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With a full-blown need to integrate storage with PV, there is no local equipment supplier which can satisfy such complex requirements. As the leading overseas manufacturers, we hope that there is the FULL exemption of import duty on hybrid storage products, which we
have already requested to MNRE. Else, the decentralized market cannot take off and customers will not be able to get products, simply said which “work properly”.

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