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The government of the UK has launched a new investment support scheme aimed at bolstering the country''s energy storage infrastructure. The initiative aims to encourage the development of long-duration energy
UK investment scheme to boost energy storage infrastructure
The initiative aims to encourage the development of long-duration energy storage (LDES) facilities, which have not seen significant investment in nearly four decades.
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What is the UK's energy storage Investment Support Scheme?
Credit: David Pimborough / Shutterstock. The government of the UK has launched a new investment support scheme aimed at bolstering the country’s energy storage infrastructure. The initiative aims to encourage the development of long-duration energy storage (LDES) facilities, which have not seen significant investment in nearly four decades.
What is the long duration energy storage Investment Support Scheme?
Long Duration Electricity Storage investment support scheme will boost investor confidence and unlock billions in funding for vital projects. The UK is a step closer to energy independence as the government launches a new scheme to help build energy storage infrastructure.
Is the UK ready to develop a battery energy storage system?
“Today we present the largest programme for the development of battery energy storage systems for over 60GWh in the UK, and we are ready to collaborate with institutions and players in the sector to make the energy production system increasingly efficient.” The UK is one of the world’s most active markets for battery energy storage.
Which energy storage projects are receiving funding today?
The energy storage projects receiving funding today include: Sunamp’s EXTEND project, East Lothian, Scotland – will receive £149,893 for a feasibility study to further develop the storage duration of their thermal batteries.
How much energy storage capacity will natpower have in 2022?
In 2022, a record of 800MWh of new storage capacity was added, taking the operational energy storage capacity to between 2.4GWh and 2.6GWh, spread across more than 160 sites. If approved and built, NatPower’s infrastructure plans would massively outweigh the capacity currently available.
Could LDEs save the energy system £24bn?
Other technologies, such as liquid air energy storage, compressed air energy storage and flow batteries, could also benefit from the scheme. Studies suggest that deploying 20GW of LDES could save the electricity system £24bn between 2025 and 2050, potentially reducing household energy bills as reliance on costly natural gas decreases.