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Ofgem allocates £16m to innovative energy projects

Posted at October 10, 2023 » By : » Categories : News » Comments Off on Ofgem allocates £16m to innovative energy projects

The Ofgem Strategic Innovation Fund (SIF) has allocated £16 million to support 36 pioneering projects in its Round 2 Alpha phase.

This funding is part of the larger £450 million SIF initiative.

These projects are geared towards assisting energy network operators in achieving several key objectives, including reducing consumer costs, decarbonising the energy system and diminishing reliance on expensive fossil fuel imports.

Building upon the earlier ‘Discovery’ phase feasibility funding, these ‘Alpha’ projects will receive up to £500,000 each to delve deeper into their concepts.

One of the funded projects, LEO-N (Local Energy Oxfordshire – Neighbourhoods), addresses the challenge of reducing carbon emissions from major sources of energy consumption.

They aim to facilitate the transition to clean energy for homes, businesses, and communities by creating a coordinated process. This process involves developing tools, business arrangements, and local government structures to expedite the move to net zero.

Article source: https://www.energylivenews.com/2023/10/10/ofgem-allocates-16m-to-innovative-energy-projects/

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