Ofgem has unveiled 40 projects that are receiving a chunk of funding from its Strategic Innovation Fund (SIF).
First announced in August 2021, the regulator is working with Innovate UK to support projects across electricity and gas networks in tackling some of the biggest challenges faced in the transition to net zero within the energy sector with £450 million in funding over five years.
Each project will receive up to £150,000 for a two-month ‘discovery’ phase to explore the potential of their technology or solution.
The chosen projects include new approaches or technologies for; large-scale storage of heat, circuit breakers to enable greater offshore wind turbines, nuclear to hydrogen, the use of satellite data to keep the lights on during emergencies and hydrogen’s potential to power heavy-duty vehicles or manage the widespread charging of electric vehicles, amongst others.
“Innovation in the energy sector is crucial to help us transform the way we travel, heat our homes, and fuel our industries at the lowest cost to consumers,” said Neil Kenward, Ofgem director for strategy and decarbonisation.
“We hope these 40 pioneering green projects will blaze a trail in innovation that will help us diversify our energy supplies, protecting consumers from future energy shocks as well as protecting the planet.”
Following on from this initial discovery stage, the projects will be judged, and those deemed to have the greatest potential will be awarded up to £500,000 to take their ideas forward. There will be further selection processes and funding available to take forward the most successful projects to large-scale demonstrations after this.
Matt Hastings, deputy director of the Ofgem SIF programme at Innovate UK, said the funding responds to “the urgency needed to deliver net zero”.
“We strongly believe we can make the UK the best place in the world to be an energy consumer, and the best place in the world to be an energy entrepreneur. Working together, we can use the Strategic Innovation Fund to help turn the UK into the ‘Silicon Valley’ of energy.”
Ofgem and Innovate UK will issue another call for proposals in the autumn of 2022. To find out more about the 40 chosen projects for SIF’s first round, see here.