Solar power now makes up around a quarter of India’s total energy capacity, but a battery-storage shortfall is threatening the country’s green energy transition.
While the boom in solar has reshaped India’s energy sector, a daytime oversupply — and insufficient batteries to store the excess power — has brought midday prices down to zero, sparking fears of cooling investor interest.
“This is not sustainable,” one analyst told Nikkei. Elsewhere, African countries have failed to attract investment into their solar industries despite the continent’s vast potential, with analysts warning excessive regulation is dimming funding prospects. “Climate finance isn’t scarce, it’s scared,” an Africa energy expert said at Semafor’s The Next 3 Billion summit.