A £20m prize fund designed to stimulate the development of vital energy-storage technology has been established by the UK government’s Department of Energy and Climate Change (DECC).
Systems able to store electricity generated at times of low demand are considered critical as our power infrastructure becomes increasingly stretched and intermittent sources of energy, such as wind power, form an increasing chunk of the UK’s energy mix.
DECC has therefore launched two competitions that it hopes will fast-track the development of energy-storage technology. The first of these will award up to £17m to large-scale energy-storage demonstration projects, while the other competition will award grants of up to £1m to research groups and other organisations working on commercially promising energy-storage concepts.
Commenting on the launch of the scheme, energy and climate change minister Greg Barker said: ‘As we move towards a low-carbon future, the ability to store energy when we don’t need it, for times when we do, will become even more important, helping us balance our electricity network and to use more clean green power.’
Applications for the first competition must be submitted by 13 December 2012, while the second competition is inviting entries up until the 27 March 2014.
Further information, including details on how to enter, can be found here.