Though electric vehicles are up to 67% less emissions intensive than gasoline cars, their competitiveness depends on many factors like the source of electricity used for vehicle and battery manufacturing and charging. Given that India still has a high share of coal or other fossil fuels in its power mix, electrifying the current car taxi fleet would help it cut emissions faster than incentivising the use of privately owned EVs because of the taxis’ greater utilisation in terms of miles travelled.
Mining company Neometals and Manikaran Power have started a jointly funded study into the feasibility of establishing India’s first lithium refinery, which would process ore from the Mount Marion mine in Western Australia.
The global energy storage market is poised to grow rapidly in the coming years, with Bloomberg New Energy Finance (BNEF) predicting $620 billion in investment over the next two decades will push cumulative global installations to 942 GW/2,857 GWh by 2040. Declining lithium-ion battery costs are driving much of this growth, with BNEF expecting the cost of utility-scale storage systems to fall roughly 52% through 2030, following an approximate 80% slide in the average price of lithium-ion battery packs in the first seven years of the current decade.
State-owned Madhya Pradesh Power Management Company Limited (MPPMCL) has invited domestic and global players for providing grid-scale energy storage services of up to 500 MW with 8 hours of daily discharge and setting up a storage manufacturing facility in the state. The deadline for proposal submission is August 2.
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