Energy storage executives from global assurance and risk management provider DNV analyse the UK government’s proposal to kickstart investment into long-duration energy storage (LDES).

We hear from UK battery storage developer-operators and long-duration energy storage (LDES) technology firms on the government’s recently-released LDES consultation, which has proposed a cap and floor scheme to kickstart investment.

The UK government has launched its consultation on its proposals for kickstarting investment into long-duration energy storage (LDES), which includes a cap-and-floor mechanism and excluding lithium-ion from being eligible.

Energy storage could save taxpayers in Germany some €3 billion (US$3.3 billion) in subsidies for renewable energy assets by 2037, simply by increasing demand in the wholesale electricity market.

The UK government is looking to bring in policy specifically around long-duration energy storage (LDES) by the end of next year.

A meeting between energy storage industry representatives and the UK’s energy minister Greg Hands took place last week.

The implementation of regulative security is all that is needed to bring in investment for long duration storage.

A cap and floor regime would be the most beneficial solution for supporting long-duration energy storage in the UK, a report from KPMG has found.