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UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.
£10mn to test energy demand reduction projects
Business, industry and other organisations will get help to cut their energy costs with £10mn available this year to improve efficiency and reduce energy demand, under details of a new Electricity Demand Reduction auction announced by Energy and Climate Change Secretary Ed Davey.
Davey was setting out details of the first £10mn auction from a £20mn budget for the full pilot. Businesses will compete for funding for projects that reduce electricity demand, where projects would not have happened without the upfront funding. The projects will save businesses money on electricity bills as well as cutting carbon emissions and demand on the National Grid. Expressions of interest were opened on 29 July.
Electrical efficiency could mean savings equivalent to 9% of total demand by 2030 – reducing the need for new power stations. The government is testing whether projects that deliver lasting electricity savings at peak times, like replacing old light bulbs with LEDs or improving motors and pumps, could compete with generation, demand side response (DSR) and storage in the UK Capacity Market.
Over 300 organisations as diverse as hospitals, airports and supermarket chains have already come forward to indicate they are considering participating in the auction, says DECC.
Speaking at the CBI’s Energy Conference in July, Davey also unveiled plans that will remove barriers to investment in energy infrastructure. Davey said that the energy sector had seen £45bn of investment between January 2010 and December 2013, with nearly £8bn investment in renewable technologies in 2013 alone, as he published the government’s first report on energy investment in the UK.
The report shows that energy projects make up around 60% of the UK’s total infrastructure project pipeline – worth around £200bn in its entirety.
News Item details
Journal title: Energy World
Countries: UK -
Subjects: Energy efficiency, Policy and Governance, Power stations, Energy infrastructure, Funding
