The government today launched the Long Duration Electricity Storage investment support scheme aimed at supporting the growth and development of renewable energy.

Earlier on Thursday, a GOV.UK Press Release announced the launch of this scheme which aims to promote the construction of the UK’s first long duration energy storage or LDES facilities in decades.

On the one hand, harnessing energy from fossil fuels can be planned and scheduled as preferred. However, solar and wind energy are most productive at certain times, which can pose challenges. For instance, solar energy peaks around midday and wind energy is subject to changing wind strengths.

Because of this, having the capacity to store renewable energy can help make the most of this output.

This might involve storing excess energy that renewables generate when most productive so that this energy can then be used during peak hours of energy use, hence limiting energy waste.

Through government regulator Ofgem, the new scheme will provide funding for both mature technologies and innovative technologies alike.

GOV.UK also reports that analysis has shown an additional 20 gigawatts of LDES may lower electricity system costs by £24 billion from next year through to 2050. This should, in turn, reduce household energy costs.

Technologies like LDES could contribute toward government energy and climate goals. These objectives include affordable and clean electricity by 2030 and achieving carbon net zero by 2050.