The announcement was made by British climate-change minister Nick Hurd as part of the government’s new Business and Energy strategy, which aims to lead to new products, services, and more effective ways of doing business with a lower carbon impact
Under the new investment, 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 and up to £600,000 for feasibility studies for projects that can store energy on a large scale, for use when it’s needed.
Up to £7.6 million will be available for advancing energy demand side response technologies that can help both private and public sector organisations reduce energy use in peak times.
To reduce the cost of energy for industry, the government will invest around £9 million in a competition for ‘industrial energy efficiency accelerator’. The competition would help to find new ways of improving the energy efficiency of UK industry, helping to develop industry-specific options for a low carbon future.
A spokesman for the Renewable Energy Association – the UK’s largest such trade body – commented: “This funding announcement is good news for the industry and will support competition, the deployment of emerging projects and the potential for the breakthrough of new products.
“The announcement, in association with the Industrial Strategy paper released on Monday, indicates the kind of cross-departmental coordination that is now needed to remove some of the major policy barriers that the industry is facing to help deployment take off. In particular, while R&D funding is welcome, many technologies are now ready to deploy at scale in the UK, and need policy changes to do so.
Hurd said: “Innovation in energy will play an important role to shape our low carbon future to rebuild an outdated energy system.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.
“Our Industrial Strategy Green Paper seeks views on how we can support these emerging technologies, ensuring we drive growth and develop international partnerships across our world leading research, science and innovation sector.”