UK Government to fund renewable energy storage technologies – EQ Mag Pro
A total of 24 projects were given funding under the government’s Longer Duration Energy Storage (LODES) competition.
The UK Government has announced funding to install new renewable energy storage technologies in the country.
As part of this initiative, the government has awarded £6.7m ($9m) to 24 projects across the country under the Longer Duration Energy Storage (LODES) competition, which is worth £68m ($91m) in total.
The funding is intended to support the development of new energy storage technologies and help the UK transition to renewable energy sources, while also encouraging private investment and creating green jobs.
UK Energy and Climate Change Minister Greg Hands said: “Driving forward energy storage technologies will be vital in our transition towards cheap, clean and secure renewable energy.
“It will allow us to extract the full benefit from our home-grown renewable energy sources, drive down costs and end our reliance on volatile and expensive fossil fuels.
“Through this competition, we are making sure the country’s most innovative scientists and thinkers have our backing to make this ambition a reality.”
Among the energy storage projects that have received funding are Sunamp’s EXTEND thermal battery project in Scotland and FlexiTanker, a thermal and compressed air energy storage project in England developed by Cheesecake Energy.
B9 Energy Storage’s Ballylumford Power-to-X project in Northern Ireland has also been funded through the LODES scheme.
New energy storage technologies developed under the programme’s first phase can use stored energy as heat, electricity or a low-carbon energy carrier such as hydrogen.
In its second phase, funding will be given to projects that demonstrate higher potential in the first phase.
Companies developing these projects will be supported in building and demonstrating their technology completely.
Last November, the UK Government announced funding to build floating offshore wind ports and factories in Scotland and Wales.
As part of Prime Minister Boris Johnson’s ten-point plan for a ‘green industrial revolution’, the country aims to generate 1GW of renewable energy from floating offshore wind farms by 2030.
Source: power-technology
