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A US executive knows what PM Modi needs to fulfill renewables growth promise, ET Auto

Renewables Growth: The promising renewables market in India could be stifled by the high cost of power storage, which will become an essential component of the transition away from fossil fuels, Robert Piconi, chief executive officer of the company, said in a interview. ....

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An US executive knows what PM Modi needs to fulfill renewables growth promise

The lack of incentives and public finance for energy storage in India could hinder the country s transition to renewable energy, according to Robert Piconi, CEO of Energy Vault Holdings. Piconi highlighted the high cost of power storage as a barrier to achieving renewable electricity availability at all times. While India has the potential for large-scale renewable power deployment, the price-conscious market makes it difficult to add enough battery capacity to displace coal. Piconi emphasized the need for subsidies to support innovation and research and development in the energy storage sector. ....

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