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Fund will harness a new approach to energy network innovation

A new £450m fund will unlock greener ways to travel and heat and power homes and businesses.

The fund, which is open to applications from today (August 31), will be available over the next five years.

Network companies, system operators, businesses and researchers can apply to use this money to drive ideas that accelerate the transition to an emissions-free energy system.

To apply for the first round of funding, network companies must address four major strategic challenges that are crucial for the energy transition. These are:

  • Whole system integration
  • Data and digitalisation
  • Heat
  • Transport

Projects could range from ensuring the energy network is ready to roll out clean heating solutions to developing new technologies for networks to support flexible energy solutions, such as battery storage technology.

time lapse photography of square containers at night

Jonathan Brearley, chief executive of Ofgem, said: ‘What we need more than ever to reduce greenhouse gas emissions and reach net zero is innovation.

‘The Strategic Innovation Fund means cutting-edge ideas and new technologies become a reality, helping us find greener ways to travel and to heat and power Britain at low cost. Britain’s energy infrastructure will play a pivotal role in cutting net-zero greenhouse gas emissions, and this fund will help make sure our energy system is ready to deliver that.’

Energy minister, Lord Callanan at the Department for Business, Energy and Industrial Strategy, added: ‘The UK is leading the world in decarbonising our energy system, with our innovators playing a vital role in going further while ensuring consumers receive clean and affordable energy.

‘The Strategic Innovation Fund will ensure the best projects and most talented minds have the grants available to reduce carbon emissions and enable bill payers to see the benefits of building back greener.’

In related news, a new £1.2m Centre for Excellence will turn waste into renewable energy.

Photo by Federico Beccari

 

 

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