As the global energy landscape transitions towards sustainability, solar power is emerging as a leading force. The Batteries for Solar Energy Storage Market size is projected to reach US$ 15,985.71 million by 2031 from US$ 3,744.38 million in 2023. The market is expected to register a CAGR of 19.9% from 2023–2031. The growing environmental awareness to decrease carbon emissions through the integration of effective energy conservation is likely to remain a key trend for the solar energy storage market.
The National Institute of Solar Energy (NISE) has assessed the country’s solar potential of about 748 GW, assuming 3% of the wasteland area to be covered by Solar PV modules. Solar energy has taken a central place in India’s National Action Plan on Climate Change with National Solar Mission (NSM) as one of the key Missions. NSM was launched on 11th January, 2010. NSM is a major initiative of the Government of India with active participation from States to promote ecologically sustainable growth while addressing India’s energy security challenges. It will also constitute a major contribution by India to the global effort to meet the challenges of climate change. The Mission’s objective is to establish India as a global leader in solar energy by creating the policy conditions for solar technology diffusion across the country as quickly as possible. This is in line with India’s Nationally Determined Contributions (NDCs) target to achieve about 50 percent cumulative electric power installed capacity from non-fossil fuel-based energy resources and to reduce the emission intensity of its GDP by 45 percent from the 2005 level by 2030.
Types of Energy Storage
- Pumped-Storage Hydropower- Pumped-storage hydropower is an energy storage technology based on water. Electrical energy is used to pump water uphill into a reservoir when energy demand is low. Later, the water can be allowed to flow back downhill and turn a turbine to generate electricity when demand is high.
- Electrochemical Storage- When electricity is fed into a battery, it causes a chemical reaction, and energy is stored. When a battery is discharged, that chemical reaction is reversed, which creates voltage between two electrical contacts, causing current to flow out of the battery.
- Thermal Energy Storage- Thermal energy storage is a family of technologies in which a fluid, such as water or molten salt, or other material is used to store heat. This thermal storage material is then stored in an insulated tank until the energy is needed.
- Flywheel Storage- A flywheel is a heavy wheel attached to a rotating shaft. Expending energy can make the wheel turn faster. This energy can be extracted by attaching the wheel to an electrical generator, which uses electromagnetism to slow the wheel down and produce electricity.
- Solar Fuels- Solar power can be used to create new fuels that can be combusted (burned) or consumed to provide energy, effectively storing the solar energy in the chemical bonds
Solar Power Expected To Lead Electricity Generation Growth
The U.S. Energy Information Administration predicts solar energy will be the leading force behind this year’s growth in the electric power industry. EIA has issued three brief studies tapping solar energy to be the major player responsible for national electricity generation gains in 2025. (EIA is the statistical agency under the U.S. Department of Energy that is tasked with providing independent analysis and metrics about energy consumption and demand.)
Battery Storage Powered The Super Bowl, And It Will Fuel The Future
Long-term energy storage captures electrons when abundant and releases them when they are not necessary to increase renewable energy's viability and market share. However, its economic and environmental impacts vary depending on the technology, scale, and regional energy mix. Storage is getting better and cheaper. One reason is that electric vehicle manufacturers are deploying lithium-ion batteries in mass. However, there are still some blockades.
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Governments' Initiatives
According to the Ministry of Science & Technology, researchers have unveiled a novel air-chargeable battery for a sustainable power solution. This technology traps the oxygen from the environment to drive the charging process for energy storage and is a step towards a carbon-neutral future.
In a world racing toward renewable energy solutions, a photo-assisted battery offers great promise as it combines the best of two worlds-- the light-capturing capability of solar cells and the robust energy storage of conventional batteries. Generally, solar panels convert sunlight into electricity, but they rely on separate battery systems to store the energy for later use. In contrast, photo-assisted batteries merge these functions into a single device, creating a seamless synergy between solar energy conversion and storage.
The Bureau of Land Management announced that the Sunlight Storage II Battery Energy Storage System is now fully operational. The battery energy storage system adds an additional 300 megawatts (MW) of energy storage to the Desert Sunlight Solar Farm in eastern Riverside County, bringing the total energy storage capacity of the project to 530 MW. The new project component allows solar energy to be stored and then released when the power is needed most, increasing the reliability and availability of clean energy on the state grid.
Energy Storage Grand Challenge
The Department of Energy’s (DOE) Energy Storage Grand Challenge (ESGC) is a comprehensive program to accelerate the development, commercialization, and utilization of next-generation energy storage technologies and sustain American global leadership in energy storage. This comprehensive set of solutions requires concerted action.
Conclusion
Batteries for solar energy storage are more than a convenience, they are a critical part of the renewable energy ecosystem. They make solar power more practical, efficient, and reliable by providing energy when the sun isn’t shining. As prices fall and technologies improve, batteries are enabling homeowners, businesses, and communities to take control of their energy future. Whether used for backup power, grid independence, or cost savings, solar batteries are lighting the way toward a cleaner, smarter, and more resilient world.
References:
Forbes- Solar Power Expected To Lead Electricity Generation Growth and Battery Storage Powered The Super Bowl, And It Will Fuel The Future
Governments' Initiatives- Ministry of Science & Technology and Bureau of Land Management Â