India, May 22 -- The conversation around renewable energy storage solutions (RESS) has evolved from mere technical possibility to encompass economic feasibility and long-term sustainability.

The market for RESS is experiencing substantial growth, propelled by the decreasing costs of renewable energy generation and increasing policy support for clean energy. The global market for battery energy storage systems is estimated to grow from $251.14 billion in 2024 to $379.29 billion by 2029, at a CAGR of 8.7% during the forecast period, as per GlobeNewsWire.

The increase is being driven by the urgency to manage the fluctuating supply of solar and wind energy and to improve the grid resilience while ensuring optimal battery lifecycle managemen...