The government has released plans to spend £28 million on reducing the cost of energy storage, advancing demand side response technologies and improving energy efficiency measures for UK industry.
After putting storage and energy efficiency at the centre of new efforts to reduce the cost of decarbonisation, the Department for Business, Energy and Industrial Strategy (BEIS) has today unveiled the new funding across a range of initiatives.
Under the new investment announced by Nick Hurd, minister of state for climate change and industry, up to £9 million will be spent on a competition to reduce the cost of energy storage, including electricity, thermal, and power-to-gas storage. This will include a further £600,000 for feasibilities studies of potential large-scale future storage demonstrators.
Applicants will be able to apply to two tranches under the energy storage cost reduction competition in March and June, while registration for the energy storage feasibility study competition is be required by 27 April.
Hurd said: “Innovation in energy will play an important role to shape our low carbon future to rebuild an outdated energy system. That’s why we’ve increased our financial support, helping to create jobs and opportunities for people across the UK.”
BEIS failed to include any support for mature renewable energy technologies in its industrial strategy, instead opting for offshore wind. This has continued in today’s funding announcements, with £1.3 million to be invested in an Offshore Wind Innovation Hub.
Up to £7.6 million will also be available for demonstrator projects intended to advance energy demand side response technologies, with 9.2 million to be spent on an industrial energy efficiency accelerator.
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