New £450m fund to unlock cutting-edge innovation across gas and electricity networks
A £450m fund is being set up to encourage energy suppliers to explore greener ways to power British homes and businesses.
The energy regulator, Ofgem, said firms should submit ideas that were "big, bold and ambitious".
They could include new ways to heat homes, store energy or transport goods and people.
Ofgem identified four areas that its Strategic Innovation Fund would focus on: heat, transport, data and digitalisation, and "whole system integration".
The fund is open for applications from 31 August and will initially run for five years, although the regulator said that could be extended if proposed plans were "strong".
Projects could include heat pumps, that use much less energy to heat homes than gas fired boilers, better electricity transmission and distribution networks, and battery storage technology, Ofgem said.
They should also have the potential to be scaled up across the networks upon completion, it said.
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
An online briefing event to launch the first funding competition under the SIF will be held on 7 September 2021 from 10:30 to 12:00; for more information see the Ofgem event web page HERE
- Diesel prices reach record of over £1.80 a litre
- UK Global Screen Fund receives £21m extra funding for three-year extension
- Energy bills shake-up plans to avoid price shocks
- Land and Property Market Survey
- Here’s The Plan…to a realistic, affordable sustainable future
- Rental market at its ‘most competitive’ ever
- Support for fishing and coastal communities
- Public encouraged to take part in National Parks consultation
- Global Business Dinner to showcase the best of Scotland
- Travelknowhow Scotland are delighted to be able to extend their FREE consultancy support package throughout 2022/23
- It’s the people of Perth’s chance to have their say on BBC Debate Night
- New Digital Skills Academy - applications open
- Perth Festival of the Arts
- Auto Services Perth Ltd sponsor Perth Racecourse for the 2022 season
- Electric models drive second-hand car sales higher
- Morrisons rescues McColl's taking on all 16,000 staff
- Inflationary pressure poses huge risk to Scottish businesses
- Focus on tackling the cost of living in Queen's Speech
- New UK sanctions for Russia and Belarus
- UK Capital Allowance Regime - Consultation
- Additional £4 million for the Young Person’s Guarantee
- Latest FPMC funding round announced
- SCC Quarterly Economic Indicator Survey Q2 2022
- Azets global SME leaders growth conference - 12th May