National Program on Advanced Chemistry Cell (ACC) Energy Storage
Recently NITI Aayog has released the report ‘Advanced Chemistry Cell (ACC) National Program on Energy Storage’.
According to the report, India is going to launch a $2.5 billion Generation Linked Incentive (PLI) scheme for ACC energy storage.
This plan is crucial to meet the projected cumulative battery demand by the year 2030.
The cumulative battery demand of 106-260 Giga watt hour (GWh) needs to be met to successfully realize the country’s vision of electric vehicles (EVs) adoption and grid de-carbonization.
Earlier, the government had approved a PLI scheme named ‘National Program on ACC Battery Storage’. It aims to achieve ACC’s production capacity of 50 GWh to enhance India’s manufacturing capabilities.
Under this, the manufacturers are expected to achieve at least 25% domestic value addition within two years and a minimum of 60% value addition within five years.
Advanced Chemistry Cells (ACC) are new generation technologies. It can store electrical energy as either electrochemical or chemical energy. It can convert it back into electrical energy when needed.
It is a global sunrise industry. This accelerates indigenization of the energy and transportation value chain.
Importance of ACC Technology –
- Electric Vehicle Target Fulfillment: It aims to meet EV 30@30 targets. This goal means ensuring a 30% share of electric vehicles in total vehicle sales by 2030.
- Reduction in battery cost: Therefore, applications of such technology are becoming increasingly economically viable.
- This helps achieve energy security and reduce carbon emissions. At the same time, it will also help in the achievement of climate goals by the year 2070.
Other related headlines-
- NITI Aayog has celebrated the one-year anniversary of ‘Zero Abhiyaan’.
- This is a consumer awareness campaign. It aims to reduce air pollution by promoting the use of electric vehicles (EVs) for ride-hailing and delivery.
Source- The Hindu