This study aims to assess the techno-economic potential of biomass and hybrid biomass-RE systems for India’s evolving grid by considering the biomass supply chain, fuel availability, and technical operation constraints. It estimates the potential value of biomass-based power plants to the Indian grid in 2030, with high RE penetration, and evaluates the capability of biomass-based power plants to provide the necessary grid balancing services that would be required. We conclude that biomass plants can add significant value to the system in terms of capacity and energy while improving the overall affordability, stability, and reliability of grid power. Biomass-based systems would significantly improve the capacity value of India’s 2030 projected RE resource mix (450 GW of solar-plus-wind installed capacity). However, the total value to the grid would be lower than the levelized cost of new systems without accounting for environmental and waste management benefits. If streamlining the supply chain could reduce biomass fuel costs, and hence variable costs, the economics could be more favorable.