The UK Government has recognised the crucial importance of renewables in generating electricity in its Energy Security Plan, and has announced a raft of measures aimed at improving networks and grid
Five projects based across the UK will benefit from a share of over £32 million in the second phase of the Longer Duration Energy Storage (LODES) competition, to develop technologies that can store energy as heat,
Power storage for energy transmission: It is also possible to use power storage systems for frequency stabilisation. As power storage units, they can absorb or release short-term power peaks to support the stability of the
This was published under the 2022 to 2024 Sunak Conservative government Over £32 million government funding has been awarded to UK projects developing cutting-edge innovative energy storage technologies that can help increase the resilience of the UK’s electricity grid while also maximising value for money.
This announcement follows the £32.8 million funding awarded to 5 UK energy storage projects across the country in November 2022 to create first-of-a-kind prototypes of their technology. A total of £69 million of funding has been awarded so far through this programme, helping to drive innovative technologies such as energy storage.
The available government subsidies for battery storage in the UK do not currently form a sufficiently significant and stable revenue stream to ensure battery storage project financings are fundable on the basis of capacity market or ancillary services alone.
However, new energy storage technologies can store excess energy to be used at a later point, so the energy can be used rather than wasted – meaning we can rely even more on renewable generation rather than fossil fuels, helping boost the UK’s long-term energy resilience.
Over £32 million government funding has been awarded to UK projects developing cutting-edge innovative energy storage technologies that can help increase the resilience of the UK’s electricity grid while also maximising value for money. Courtesy of NREL.
Long Duration Electricity Storage investment support scheme will boost investor confidence and unlock billions in funding for vital projects. The UK is a step closer to energy independence as the government launches a new scheme to help build energy storage infrastructure.
