The United Kingdom (UK) has awarded over £32 million government funding to UK projects developing cutting-edge innovative energy storage technologies that can help increase the resilience of the UK’s electricity grid while also maximising value for money.
The funding awarded is to develop new energy storage technologies, such as thermal batteries and liquid flow batteries.
Five projects based across the UK will benefit from a share of over £32 million in the second phase of the Longer Duration Energy Storage (LODES) competition, to develop technologies that can store energy as heat, electricity or as a low-carbon energy carrier like hydrogen.
The variable nature of renewables like solar and wind power means that energy can be produced when it is not needed, such as during extended periods of high wind.
However, new energy storage technologies can store excess energy to be used at a later point, so the energy can be used rather than wasted – meaning we can rely even more on renewable generation rather than fossil fuels, helping boost the UK’s long-term energy resilience.
This according to the sector builds on the aims set out in the Energy Security Strategy earlier this year, to ensure a more flexible, efficient system by encouraging flexibility with large-scale, long-duration electricity storage to balance the overall system.
“Accelerating renewables is key to boosting our energy resilience. Energy storage helps us get the full benefit of these renewables, improving efficiency and helping drive down costs in the long term,” The Minister for Climate Graham Stuart said.
“This £32.9 million government backing will enable green innovators across the UK to develop this technology, helping create new jobs and encouraging private investment, while also safeguarding the UK’s energy security,” he added.
The funding announced today follows the first phase of the LODES competition, which saw £2.7 million awarded to 19 projects.
This second phase provides further funding to the most promising projects from Phase 1, enabling them to build prototypes and demonstrators to bring their projects to life.
The LODES competition provides government backing to accelerate the development and commercialisation of innovative energy storage technologies, in turn supporting the UK’s transition to relying on renewables, while also encouraging private investment and new green jobs – with an estimated 100 jobs supported through these projects.
