Changes to Strategic Innovation Fund offer opportunities for innovation

SIF projects support efforts to cut energy bills, excessive carbon emissions and energy insecurity by accelerating the transition to clean, domestic energy. According to Ofgem, the changes will make the SIF more flexible and create more opportunities to apply for funding.

Over £95m was announced for 10 projects through SIF in July of 2023. Projects being developed include technologies that will enable more flexible use of energy, artificial intelligence (AI) and weather data systems to predict energy network risks and faults, and circuit breakers that enable the increasing amounts of power generated by offshore wind to be connected to the grid more efficiently. Launched in 2021, the fund is expected to invest £450m by 2026. 

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In practice, rather than a single application window for each phase, there will be three each year for all phases which include Discovery, Alpha and Beta.

Similarly, project teams will be able to decide which phase to apply for, depending on progress. Ofgem said this approach will allow project teams to decide their own start date to suit the project and their resources. Projects will also be able to deliver within a flexible timeframe.