Government funding for innovation in renewable energy.
Renewable Energy Innovation
Government is investing in renewable energy innovation to bring the cost of technologies down. This includes around £177 million in investments from BEIS, Innovate UK, and the Research Councils.
As part of this commitment, within the BEIS Energy Innovation Programme, BEIS expects to invest around £15 million in the renewables innovation theme.
Joint Collaborations to Reduce the Cost of Renewables
The UK is working with other countries to develop shared solutions to reducing the cost of renewable energy technologies. This includes UK investments through the European Research Area Network (ERAnet) of around £700,000 in bioenergy demonstration projects and up to £8 million in the ‘DemoWind’ programme to reduce the cost of offshore wind technologies.
Offshore Wind Innovation Hub
Building on the UK’s unique expertise in the offshore wind industry, BEIS is investing up to £1.3 million in a new offshore wind innovation hub, to be delivered by the Offshore Renewable Energy Catapult and the Knowledge Transfer Network. The Hub will bring industry together to innovate and reduce the cost of energy from offshore wind.
The hub’s first programme will be the Offshore Wind Innovation Exchange. This cross-sector initiative will accelerate the cost reduction of energy from offshore wind by matching industry challenges with innovative solutions adopted from other parts of the economy, to provide new opportunities for UK businesses.