UKRI launch £30m smart energy competition

UK Research and Innovation (UKRI) has invited smart energy innovators to present new ideas to win a share of £30m.

They hope the fund will help to kick-start an industry which could be worth billions of pounds by the early 2020s whilst supporting tens of thousands of new high-value jobs.

Projects should demonstrate new approaches that integrate energy technologies across heat, power and transport in a way that is replicable and scalable across the UK.

The competition opened yesterday (April 29) and will close at midday on August 7. It forms part of a wider £102.5m Industrial Strategy Challenge Fund programme called, Prospering from the Energy Revolution (PFER)

A previous recipient of the Fund was the BankEnergi project in south London who received £136,107.

They look at ways to manage energy demand and storage in order to enable local trading in so-called ‘virtual power stations’.

These peer-to-peer energy networks allow members to effectively trade energy with each other, creating a local economy and giving users the option to move away from big energy suppliers.

Energy and Clean Growth Minister Claire Perry said: ‘We are at the start of a smart energy revolution, which will see technology like energy storage, smart appliances and electric vehicles become part of the fabric of everyday life.

‘A future built on digital, data-driven smart systems will transform the way society interacts with the grid – delivering cheaper, greener and more flexible access to energy for everyone.

‘This competition will help to give the UK’s makers and innovators the tools to make this vision a reality, and seize on the business opportunities ahead.’

Photo credit – UKRI