Energy Innovation

Question

Energy Innovation

Accepted Answer

The BEIS energy innovation funding targets key net-zero innovation opportunities from a whole energy system perspective to accelerate the commercialisation of innovative low-carbon technologies, systems and processes in power, buildings, and industry sectors.

The funding includes:

the £1 billion Net Zero Innovation Portfolio (2021 to 2025)
the £505 million BEIS Energy Innovation Programme (2015 to 2021)

Net Zero Innovation Portfolio

The Net Zero Innovation Portfolio provides funding for low-carbon technologies and systems. Decreasing the costs of decarbonisation, the Portfolio will help enable the UK to end its contribution to climate change.

Innovation is key to developing the green technologies needed to tackle climate change. The Net Zero Innovation Portfolio is a £1 billion fund, announced in the Prime Minister’s ten point plan for a green industrial revolution.

Read more about the portfolio and the projects it is funding.

BEIS Energy Innovation Programme (funding closed)

The BEIS Energy Innovation Programme (EIP) aims to accelerate the commercialisation of innovative clean energy technologies and processes into the 2020s and 2030s. The Programme, with a budget of £505 million from 2015-2021 consists of 6 themes, to invest:

around £70 million in smart systems
around £90 million in the built environment (energy efficiency & heating)
around £100 million in industrial decarbonisation and carbon capture, use, and storage (CCUS)
around £180 million in nuclear innovation
around £15 million in renewables innovation
around £50 million in support for energy entrepreneurs and green financing

Support for current EIP projects during coronavirus (COVID-19)

The EIP manages over 250 innovation projects across several energy sectors. The COVID-19 pandemic has created significant disruption to organisations supported through the EIP.

BEIS has set out options it will consider to support existing projects at risk of closing early or substantially reducing in scope due to direct COVID-19 impacts.

For further details regarding the COVID-19 support available for projects please contact your BEIS Project Monitoring Officer, BEIS Project Contract Manager or email EIP_COVID19Contact@beis.gov.uk.

Mission Innovation

In keeping with the Prime Minister’s ten point plan and aims for our COP26 Presidency, the UK continues to cooperate with other countries to accelerate clean energy research, development and demonstration efforts. A primary forum is Mission Innovation, which the UK joined at the COP21 climate change conference in Paris.

Mission Innovation is an international initiative which aims to accelerate clean energy investment and innovation, and currently involves 24 countries and the European Commission (on behalf of the European Union). The UK plays a leading role, formerly chairing the initiative, and currently provides the Head of the Secretariat.

For the first phase of Mission Innovation, all 25 members committed to double their own public investment in clean energy innovation. Since Mission Innovation’s launch, members have delivered a $4.9 billion increase in annual investment in clean energy innovation.

Mission Innovation Ministers have agreed to develop a second phase to be announced at the Sixth Mission Innovation Ministerial in June 2021 that includes:

an enhanced Innovation Platform building on current activities to strengthen the global clean energy innovation ecosystem and to accelerate learning
new public-private innovation alliances – Missions – built around ambitious and inspirational goals backed by voluntary commitments that can lead to tipping points in the cost, scale, availability, and attractiveness of clean energy solutions

The development of an ambitious second phase is a priority for our COP26 Presidency to increase global cooperation and accelerate the pace of innovation of clean energy solutions so that every country and sector can affordably meet net zero by 2050 or before.