Regulator Ofgem has launched a new £450m fund to help energy networks develop innovative technologies that will accelerate the transition to a low-carbon energy system in the UK. Called the Strategic Innovation Fund, the scheme replaces Ofgem’s previous Network Innovation Competition. Funding will be allocated over five years. Ofgem has today (31 August) outlined the four “major strategic challenges” that the fund will address. Eligible projects will need to prove they are addressing at least one. The challenges are decarbonising heat, decarbonising transport, improving whole-system integration and accelerating digitisation/ improving data. Technologies set to benefit, Ofgem said in a statement, include battery energy storage, which can combat the intermittency of renewable electricity generation; electric heat pumps; heat networks and software which can assess how to prepare whole energy systems for low-carbon solutions at scale.
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