Starting from 7 May 2019, UK business will have a chance to compete for a share of up to £30 million to develop designs for smart local energy systems that make the best use of innovative technologies including cheaper renewables, energy storage, low carbon heat and digital infrastructure.

The aim of the competition is to create a pipeline of highly innovative, ambitious, local energy system designs that are investable and ready to roll out across the UK in the 2020s.

Projects will create new market and business models using smart energy systems that enable deployment at scale of the latest in energy technologies across heat, power and transport, in a way that is reproducible across the UK.

Projects are expected to:

• develop novel market and business approaches for smart energy systems
• integrate new energy technologies across heat, power and transport in replicable and scalable ways across the UK
• investigate and design approaches that will significantly lower energy system costs and emissions
• create economic benefits for the local area and the UK as a whole
• develop finance and investment models for the deployment of low carbon technologies at scale

To know more, visit Innovate UK or contact us on info@redknightconsultancy.co.uk

Source: Innovate UK