A government promise to award £28M to energy innovation projects has boosted the green energy sector.
Offshore wind, efforts to cut industrial energy use, and smart systems projects will benefit from the funding, which is part of the government’s commitment to double energy innovation spending to £400M per year by 2021.
The announcement followed publication of the government’s modern industrial strategy green paper earlier this week. It contained good news for the industry and nuclear projects in particular.
“Innovation in energy will play an important role to shape our low carbon future to rebuild an outdated energy system.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,” said climate change and industry minister Nick Hurd.
“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.”
Energy storage appears to benefit most from the investment. Up to £9M is earmarked for a competition to cut costs for electricity, thermal, and power-to-gas storage. Around £600,000 for large-scale storage feasibility projects will also be made available.
Demand-side response technology will get a boost of roughly £7.6M for research and development, while the government hopes to bring down energy costs for industry with a £9M competition to develop industry-specific, low-carbon options.