£102 million to make UK prosper from the energy revolution
The development of a network of the best UK research and expertise in energy from right across the research disciplines, completes the launch of the £102.5 million prospering from the energy revolution challenge, which is part of the government’s modern Industrial Strategy.
The energy revolution research consortium will deliver a suite of strategic research projects that address industry- led challenges in the development of local, investable, consumer-centred energy approaches to create prosperous clean energy communities.
The research consortium competition builds on a series of announcements in recent weeks that detail how the Industrial Strategy Challenge Fund is developing cutting-edge capabilities in local systems that deliver cleaner, cheaper and more resilient energy for consumers; which include:
Smart local energy systems demonstrators and designs
The fast-track creation of up to 3 practical local energy systems demonstrators and a range of whole-system design studies, which could be ready for new consumer energy systems in the 2020s.
The practical demonstrators will build supply chain capabilities, deliver positive changes for energy consumers, and inform future projects. The design studies will create a pipeline of investable projects for the future.
Innovation accelerator fund
The innovation accelerator fund will develop and commercialise smart local energy system products and services, and help UK business and researchers engage with the best international innovation opportunities.
Research and integration services
A world-leading, inter-disciplinary research programme will be commissioned to work alongside the Energy Systems Catapult. The programme will provide coordination and technical support to demonstration and design projects.
Those involved with this project, as well as those related to the challenge of the energy revolution will open themselves up to prosperous opportunity. As new smart systems become a norm, linking energy supply, storage and demand patterns, they will be able to take advantage of some $2 trillion of yearly investment into global energy infrastructure. This will arrive over the coming decades.
The scope of this challenge is to provide solutions that will integrate multiple technologies, infrastructures and market, finance and societal systems in real-world settings to create models for the future that can be scaled up and invested in as time goes on. This has the knock-on effect of creating high-value jobs across the country as well as the opportunity for increased business for those in design, testing, finance, installation and operation of energy products, systems and services.