banking service chronicle This article was published in September ACCs are the new generation of advanced storage technologies that can store electric energy either as electrochemical or as chemical energy and convert it back to electric energy as and when required.They will cater not only to electric vehicles but also to the consumer electronics industry solar rooftops and electricity grids.Indias annual demand for ACC batteries would rise to between 104 GWh and 260 GWh by 2030 (from close to 2.7 GWh now) across multiple sectors. 97 Energy security: Indias heavy dependence on energy imports (particularly for oil) makes it vulnerable to volatility in global commodity prices. Transition to EVs enabled by battery manufacturing will invariably have an impact on Indias energy and commodity imports.Import substitution: It will facilitate Make-in-India and Atmanirbhar Bharat and will therefore insulate domestic supply chain from any supply shocks that could put the entire battery ecosystem at risk banking service chronicle magazine subscription.
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