Is solar+storage cheaper than industrial electricity tariffs in India?

New Delhi: U nion Minister for New and Renewable Energy Pralhad Joshi on Tuesday highlighted that solar+storage (combining solar photovoltaic (PV) and energy storage technologies) in India is now cheaper than industrial electricity tariffs in most states, as these prices have been fixed for decades, citing a new study.

Will India's solar-plus-storage system surge?

India’s solar-plus-storage systems have recently recorded record-low tariffs under ₹6/kWh, leading to increasing deployment potential across industrial and commercial use cases. Battery prices have dropped to $55/kWh, prompting a potential surge in India's energy storage systems.

Will India achieve a 365 GW PV generation capacity by 2023?

According to the National Energy Plan (NEP) 2023, India aims to achieve a PV installed capacity of 186 GW by 2026-2027 and to reach 365 GW by 2032. Such a vast PV generation capacity will require corresponding energy storage systems to maintain grid stability, making storage technology a crucial element in the current energy transition.

Are photovoltaic panels a good investment for India?

Solar energy has become a cornerstone of India’s renewable energy drive, and photovoltaic (PV) panels play a critical role in this transformation. As more people embrace green energy, understanding photovoltaic panels—their price, benefits, and challenges—has become essential for making informed decisions.

Is India replicating its solar success in storage?

“With battery pack prices now under $60/kWh and total system costs rivalling those in China, India is replicating its solar success in storage,” said Dr Amol Phadke, co-author of the study. The report also points out that India’s industrial electricity tariffs have averaged nearly Rs 8/kWh in 2025, with costs expected to rise.

What is the future of solar panels in India?

The future of solar panel costs in India looks bright, with continued advancements in technology, supportive government policies, and growing market demand driving prices down. By 2025, solar panels are expected to be more affordable and efficient, making solar energy an increasingly attractive option for consumers and businesses alike.