The first phase of a four-year £246m Government investment into battery technology has been launched in a move that could help bring down household electricity bills. The long-term vision includes creating giant battery facilities around the National Grid to store excess wind and solar energy for when demand rises. In addition, new rules will help households with solar panels to generate and store their own electricity with new battery technology and sell it back to the Grid when they do not need it. They will also reduce costs for people and businesses who power down appliances at peak times and use electricity at cheaper times. The Government and Energy regulator Ofgem estimate that consumers could save between £17bn and £40bn by 2050. Advertisement Business and Energy Secretary Greg Clark unveiled details of the first phase, known as the Faraday Challenge, on Monday. This includes a £45m competition to establish a centre for battery research which he said would help make the UK a world leader in the design, development and manufacture of electric batteries. More from Business IMF urges ‘targeted support’ for UK households hit by cost of living surge Eerie echoes of inflation-riddled past as UK firms pass on… Read full this story
- One innovative start-up wants to get your energy bills down to zero
- SDG&E to add five new battery storage facilities
- What's in the new House bipartisan anti-robocall bill
- Wisconsin company unveils new lighting technology
- Lithium-Air Batteries can Store Energy for Cars, Houses and Industry
- Powerful new battery could help usher in a green power grid
- IoT Sensors Reveal New Ways for Manufacturers to Cut Energy Usage
- New Graphene Technology Enhances Electronic Displays
- Future electric cars: Upcoming battery-powered cars that will be on the roads within the next 5 years
- Future electric cars: The battery-powered cars that will be on the roads within the next 5 years
New battery technology could cut energy bills by up to £40bn by 2050, says Ofgem have 300 words, post on news.sky.com at July 24, 2017. This is cached page on Bach Thien. If you want remove this page, please contact us.