Credit: David Pimborough / Shutterstock. The government of the UK has launched a new investment support scheme aimed at bolstering the country’s energy storage infrastructure. The initiative aims to encourage the development of long-duration energy storage (LDES) facilities, which have not seen significant investment in nearly four decades.
“In light of the huge economic damage the recent energy crisis has caused, it is distressing to see that the Government lacks a clear plan for energy supply risks and indeed is still deliberating over investment in energy storage to prevent future crises.” Baroness Brown of Cambridge, Chair of the House of Lords Science and Technology Committee.
A strategic reserve of electricity storage is a critical investment to secure the UK’s energy supply against future shocks, but the Government is still equivocating over whether it is necessary to invest in one. “Since 2023, the Government has had a Department for Energy Security and Net Zero.
Deployment will also depend on ongoing developments in energy markets and a better understanding and communication of the risks. The Government will implement a policy on longer duration energy storage by 2024. Acknowledgements POSTnotes are based on literature reviews and interviews with a range of stakeholders and are externally peer reviewed.
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.
Other technologies, such as liquid air energy storage, compressed air energy storage and flow batteries, could also benefit from the scheme. Studies suggest that deploying 20GW of LDES could save the electricity system £24bn between 2025 and 2050, potentially reducing household energy bills as reliance on costly natural gas decreases.