UK Empowers Electricity Storage Systems with Fund Amount of 20 Million

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

The UK Government is about ready to hit the “go” button on the work of leading innovators in the electricity and energy storage systems sector. It has directed £20 million for two energy storage competitions, which, in return, will reportedly fetch a yield of £10 billion every year (if an Imperial College London report is correct).

energy storage

Applicants are invited to register through the internet this week. The goal is to have the projects starting at the beginning of next year.

The “Energy Storage Technology Demonstration Competition,” which is supposed to be the first competition, will enable the organisations to acquire funds from the government, which will help them build up and exhibit their innovations in energy preservation and their technological prowess. The goal is to improve utility-scale storage for the UK’s electricity grid.

As for the second competition, the DECC’s Energy Storage Component Research and Feasibility Study Competition, a funding grant will be offered in order to “support component level research in relation to storage technologies.”

Andrew Jones who is the S&C Electric Company’s managing director for Middle East, Africa, and Europe, said to BusinessGreen that the organisation would let in up to 3 projects.

He further added that S&C is in talks with several clients that have the potential to develop storage demonstrations schemes for solar or wind farms, and another to support massive commercial constructions in order to make them independent of the grid (simply running on renewables and energy storage). Of course, competitively priced electricity storage is key to the UK’s (and other countries’) long-term renewable energy goals.

Jones said: “We are delighted with DECC’s announcement to support the progression of electricity storage. This will certainly help contribute towards the government’s overall understanding of its benefits and hopefully enable the market reforms required to facilitate its adoption. This will provide the much-needed impetus to improve the efficiency of our electricity grid and help boost the integration of renewable energy sources.”

Image: batteries via Shutterstock

Have a tip for CleanTechnica? Want to advertise? Want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Our Latest EVObsession Video

I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it!! So, we've decided to completely nix paywalls here at CleanTechnica. But...
Like other media companies, we need reader support! If you support us, please chip in a bit monthly to help our team write, edit, and publish 15 cleantech stories a day!
Thank you!

CleanTechnica uses affiliate links. See our policy here.

2 thoughts on “UK Empowers Electricity Storage Systems with Fund Amount of 20 Million

Comments are closed.