Excess power generation capacity provides India an opportunity to shift completely to green energy. If the country can halve storage technology prices in 10 years it can do without the need for new coal based plants, a study by The Energy and Resource Institute (TERI) said.
The TERI report indicated that current installed capacity and the capacity under construction would be able to meet demand till about 2026, keeping India power sufficient. The report estimates that no new investments are likely to be made in coal-based power generation in the years prior to that.
The TERI report also estimates that beyond 2023-24, new power generation capacity could be all renewables, based on cost competitiveness of renewables as well as the ability of the grid to absorb large amounts of renewable energy together with battery-based balancing power. It also said that all new investments in power generation are likely to develop new storage technologies.