Ecological Energy Storage System New Quote Announcement

How will the new energy storage scheme work?

The new energy storage scheme will include a cap on the revenues of project owners, forcing them to share some or all profits above a set threshold, while a minimum floor price will guarantee certain revenues for operators.

What is the UK's energy storage Investment Support Scheme?

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.

What is the long duration energy storage Investment Support Scheme?

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.

Where is SSE Renewables delivering its second battery energy storage system?

SSE Renewables has taken a Final Investment Decision to proceed with, and entered into contracts to deliver, its second battery energy storage system (BESS). The 150MW project is located at the site of SSE’s former Ferrybridge coal-fired power station in West Yorkshire, England.

Could a new energy investment spur the first long-duration power storage facility?

The Department for Energy Security and Net Zero (DESNZ) said the new investment scheme could spur the first major long-duration power storage facilities the country has seen in almost four decades.

What is a 'cap-and-floor' energy storage scheme?

The UK government has today launched a new scheme designed to leverage investment in long-term energy storage capacity, which will operate as a ‘cap-and-floor’ mechanism.