The government is releasing plans to spend £28 million on reducing cost of energy storage to improve energy efficiency measures for UK industry.
The Department for Business, Energy and Industrial Strategy (BEIS) are putting energy storage and efficiency at the centre of its efforts to reduce the cost of decarbonisation and are using the funding across a range of initiatives.
Minister of state for climate change and industry, Nick Hurd, announced that a new investment will see up to £9million being spent on a competition to reduce the cost of energy storage, including electricity, thermal and power-to-gas storage. The competition will be open from March and aims to explore innovative, energy-efficient solutions to storage.
“Innovation in energy will play an important role to shape our low carbon future to rebuild an outdated energy system.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,” Hurd said.
Head of policy and external affairs at the Renewables Energy Association, James Court, states “This funding announcement by the government is good news for the industry and will support competition, the deployment of emerging projects and the potential for the breakthrough of new products.”
Innovative energy solutions are the core focus here at Ecolution and we strive to help reduce carbon and energy bills through renewable technologies. The opportunity provided by the government to invest in energy storage will help us lower costs for our customers and increase system efficiency.
We have already experienced the benefits of battery storage systems and are always looking to expand our current range.