The UK government announced today the launch of a new scheme aimed at helping to build long duration energy storage capacity by enabling investment in critical infrastructure.
Long Duration Electricity Storage investment support scheme will boost investor confidence and unlock billions in funding for vital projects. The UK is a step closer to energy independence as the government launches a new scheme to help build energy storage infrastructure.
The scheme’s first round is expected to be open to applicants next year. Beatrice Filkin, Director of Major Projects at Ofgem said: “We are pleased to see the government’s publication today on its plans for long duration electricity storage.
In its response to EAC’s report, published today, the Government has set out the steps it is taking to remove market barriers so as to support the rollout of energy storage projects at scale, in order to keep the lights on when renewable energy generation is low.
Coire Glas received planning consent from the Scottish Government in 2020 and, with an electricity storage capacity of 30GWh, would double Britain’s total current electricity storage capacity – providing vital back up to an increasingly renewables-led system and bolstering energy security.
It estimated that 4–6GW of LDES storage would be needed by 2030. As well as the cap and floor scheme, the government said it would engage with projects at advanced stages of technological readiness to explore financing options.
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