Advancing Strategic Investments in Rural Energy Storage Systems

India is predominantly a rural country with two-thirds of its population and 70% of its workforce residing in rural areas. The Indian rural economy constitutes 46% of the national income and, despite the rise of urbanization, more than half of India’s population is projected to be rural by 2050. Thus, rural growth and development is key to the overall growth and inclusive development of the country.

India’s economy is struggling and will continue to do so for some time post-COVID-19. Currently, our nation’s rural economy is largely dependent on agriculture and that sector appears to be the least affected. As per a recent projection from CRISIL, India’s GDP will decline this financial year, however the rural economy, largely focused on agriculture, will have a growth rate of 2.5 %. To support this growth, it is essential to have a continuous and affordable supply of power for rural India’s households and industries. Energy storage is one of the most critical and crucial components to rural India’s energy infrastructure strategy and it is must sustain the transformation from fossil to renewable energy. Along with the adoption of cost competitive technologies suited to Indian conditions, there is also a dire need to regulate the use of energy storage systems.

Underwriters Laboratories, a global safety science research organization, in association with WRI India, a renowned research organization, is bringing together eminent panelists to deliberate on the key strategic investments that India should make in the energy storage space. The focus of the panel discussion will largely center on policy related regulations and technology advancements that impact the safety and sustainability of the society.

Other topics of discussion:

• How can we revolutionize energy storage systems to make business models sustainable?
• What regulatory framework should be used to scale solutions?
• As we accelerate the pace of renewable energy adoption, what safety parameters should be kept in mind?
• How do we bridge the gap between electricity access and other development priorities?
• What will it take to build a clean energy storage system that can actively contribute towards rejuvenating rural economy?

SPEAKERS

• Mr. Jayesh Ranjan, IAS, Industry and Commerce Secretary, Govt. of Telangana
• Dr. Tom Chapin, Vice President – Research, Underwriters Laboratories
• Mr. Reji Kumar Pillai, President, India Smart Grid Forum
• Mr. Rajnath Ram, Advisor, Niti Aayog
• Mr. Ruchir Shukla, Director, Electric Mobility, Shakti Foundation
• Ms. Aparna Mangla, Regional Manager, Shell Foundation
• Moderated by Dr OP Agarwal, CEO, WRI India