India will not be able to meet its aim of becoming a global leader in battery manufacturing unless it establishes a value chain that embraces recycling.
Lithium iron phosphate (LFP) will be the dominant battery chemistry over nickel manganese cobalt (NMC) by 2028, in a global market of demand exceeding 3,000GWh by 2030.
Guidehouse Insights says that the annual power capacity deployments of battery-based residential energy storage systems (RESS) are expected to grow at a CAGR of 21.3% from 2021 to 2030 globally.
In the third quarter of 2021, almost as much energy storage was deployed in the US as was recorded for the whole of 2020, when the industry surpassed a gigawatt of installations for the first time ever.
