UK sets up GBP450mln fund for innovation in green energy

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Ofgem is launching a GBP450mln fund for innovative projects that will help the UK’s energy system become greener.


Projects could range from ensuring the networks are ready to roll out clean heating solutions, such as heat pumps, to battery storage units to make sure surplus energy is saved.


The initiative will support the country’s net-zero ambitions by 2050 while keeping bills “as low as possible”, the energy regulator said.


Managed in partnership with Innovate UK, the fund is open for applications on Tuesday and the money will be available for five years.


Applicants will have to address four major challenges: whole system integration, data and digitalisation, heat and transport.


“What we need more than ever to reduce greenhouse gas emissions and reach net zero is innovation,” said Ofgem’s chief executive Jonathan Brearley.


“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.”

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