India’s C&I Energy Storage Market to Expand to 22-31 GWh by 2032
- IBEF
- June 19, 2026
India’s commercial and industrial (C&I) energy storage market is set for significant expansion, with installed capacity projected to grow from under 1 GWh in 2025 to 22-31 GWh by 2032, according to the India Energy Storage Alliance (IESA). The growth outlook reflects rising electricity tariffs, increasing adoption of renewable energy, the need for reliable power and India’s broader decarbonisation goals. IESA said the market is transitioning from backup-centric use to a more strategic role in energy optimisation, resilience and cost management. The study outlines two scenarios for growth: a Business-as-Usual (BAU) path, under which C&I energy storage could reach 22-23 GWh by 2032, and a Rapid Adoption (RA) scenario, which could push installations to 31 GWh if market-friendly reforms and falling battery costs accelerate deployment. The report noted that C&I customers are increasingly using storage along with open-access renewable energy, rooftop solar and diesel generator replacement applications.
The study also maps the technology landscape across multiple storage solutions, including lead acid, advanced lead acid, lithium-ion, vanadium-redox flow, sodium-ion and pumped hydro systems, with detailed focus on LFP, NMC, VRFB and sodium-ion chemistries. IESA said the market is at an early but evolving stage and is being supported by cost-optimisation needs, improving storage economics and regulatory clarity. The association will showcase the report, “India Stationary Storage Market for C&I Applications: Insights Till 2032,” at the 12th India Energy Storage Week (IESW) in New Delhi from July 8-10, 2026, which is expected to host over 200 exhibitors and 10,000+ industry leaders from more than 30 countries. IESA added that the report is intended to help C&I consumers and stakeholders make more data-driven decisions in a market that is becoming increasingly central to India’s energy transition.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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