A reliable, economically competitive and environmentally sustainable electricity system is the cornerstone of a modern society. The Fourth Industrial Revolution is being built on the digital revolution and combines multiple technologies that are leading to unprecedented paradigm shifts in the economy, business and society et al.
The electricity landscape is a prime example of the Fourth Industrial Revolution as it is undergoing transformation that are more complex than ever before, all thanks to the rapidly evolving technologies, emerging innovative business models and shifting regulatory landscapes. In the recent years, with advancement in the digital technology, there has been a gradual shift towards the Integrated Power Sector Planning inclusive of the energy storage in developed countries. However, in the Indian context storage is considered only as a standalone plant with no integration involved. It is high time for us to make improvement in storage technology, making it more energy efficient with easy integration with the grid. And here, adaptability of the energy storage system can play an important role in the following scenarios: Read more
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