UK Government announces boost for new renewable energy storage technologies
Nearly £7 million awarded to turbocharge UK projects that are developing innovative energy storage technologies.
Nearly £7 million awarded to turbocharge UK projects that are developing innovative energy storage technologies, in first round of government-backed competition.
The intermittent nature of renewables like solar and wind power means that energy can be produced when it is not needed, such as during extended periods of high wind. However, as new technologies are developed, this energy can be stored for longer, helping manage electricity generation variations and increasing resilience, while also maximising value for money.
Twenty-four projects based across the UK have been awarded the first round of funding through the Longer Duration Energy Storage competition, which is worth £68 million in total.
These projects will benefit from a share of over £6.7 million to develop new energy storage technologies that can utilise stored energy as heat, electricity or as a low-carbon energy carrier like hydrogen.
Ranging from the development of thermal batteries to converting energy to hydrogen, they have been selected because of their potential to improve technology performance and reduce the cost of meeting net zero.
Greg Hands, Energy and Climate Change Minister said, “driving forward energy storage technologies will be vital in our transition towards cheap, clean, and secure renewable energy. It will allow us to extract the full benefit from our home-grown renewable energy sources, drive down costs and end our reliance on volatile and expensive fossil fuels.”
The funding announced today is a key step towards supporting the development and commercialisation of innovative energy storage technologies, in turn supporting the UK’s transition to relying on renewables, while also encouraging private investment and new green jobs.