About to skyrocket: India will be one of the three key markets fuelling the mammoth 122X expansion in energy storage through to 2040 | Image: Mercom India

BNEF: Energy storage to multiply 122X by 2040, India, China & USA to fuel expansion

BNEF’s new analysis has estimated that the global energy storage market will expand by a whopping 122-fold by 2040, with India, China and the US as the leading markets. The expansion will see capacities rise from 9GW/17GWh in 2018 to 1095GW/2850GWh by 2040 and will require an investment of around $662billion. Further, EVs and utility-scale storage projects are expected to drive major demand for new capacities as more renewable energy is brought into the energy mix. 

BNP Paribas: Solar, wind produce 7X more useful energy for cars per dollar than oil 

A new study by BNP Paribas SA has found that dollar for dollar, solar and wind power provided seven times more useful energy for cars than oil at current prices. The study also claims that under current operating efficiencies, gasoline would have to retail at $9-$10 a barrel to remain competitive with electric cars powered by solar or wind. Diesel, on the other hand, would have to drop to $17-$19 a barrel. 

However, sales of purely clean energy-driven cars are miniscule when compared to IC engine variants. Their numbers are expected to improve on the back of calls for cleaner transport and global support mechanisms like carbon pricing.

Delhi slashes EV charging tariffs to boost uptake 

Delhi has slashed tariffs for EV charging at residential chargers to Rs. 4.5/kWh (Rs.5.5/kWh) and at public chargers to Rs. 4/kWh (from Rs.5/kWh). The move is aimed at boosting the uptake of EVs to help improve the city’s notorious air quality. 

SUN Mobility and Uber to launch e-autos with swappable batteries

EV services provider SUN Mobility has tied up with Uber to launch electric autos with swappable batteries in India. While the date of the launch is yet to be announced, the e-autos are expected to start service within 2019. Their key advantage will be much reduced downtime, as that the owner can purchase the auto without paying for the battery and swap a depleted pack for a fully charged one within minutes. Parking and charging an EV with fixed batteries usually takes several hours. 

Poor demand forces Centre to extend deadline on 10,000 EVs to Jan 2020 With only 652 electric cars taken up by state governments across India so far, the Centre has extended the deadline for 10,000 electric cars by a year to January 2020. EESL had invited the tender for the 10,000 e-cars back in January 2018 and had reported strong demand for around 19,000 units. But issues reported with the cars’ driving range and charging times have possibly been critical in their poor uptake.