The United Kingdom has launched an investment support scheme to boost private investment in long duration energy storage (LDES). The ‘cap and floor’ scheme aims to encourage LDES investment, such as pumped-storage hydro, to store the surplus renewable energy produced to enhance energy security. Other technologies, such as liquid air energy storage, compressed air energy storage and flow batteries will also be included in the scheme. Ofgem will act as the regulator and delivery body on the scheme’s first round, expected to open in 2025. The design of the scheme will be split into 2 application routes, with one focusing on mature technologies and another dedicated to new innovation.
Great Britain currently has 2.8 GW of LDES across 4 existing pumped-storage hydro schemes in Scotland and Wales. The country considers necessary to develop between 12 GW and 15 GW LDES capacity by 2050 to achieve net zero.
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