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.
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.
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.
Accelerating the uptake of energy storage technology will also mean National Grid can balance the grid by activating storage systems instead of asking certain power generation technologies to switch off, further reducing costs to the taxpayer. Minister for Energy Security and Net Zero Graham Stuart said:
Several storage facilities — which absorb surplus electricity at times of excess generation and release it when needed — won contracts with National Grid, the UK power system operator, in its latest auction of subsidies for back-up capacity.
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Over £32 million government funding has been awarded to UK projects developing cutting-edge innovative energy storage technologies that can help increase the …
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Under the policy, schemes for energy storage qualify for four-year contracts, while those that pay large users of electricity to reduce consumption at times of peak demand …
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