Ofgem has announced changes to the Strategic Innovation Fund (SIF).
The SIF supports projects aimed at reducing high energy bills, cutting carbon dioxide emissions and improving energy security.
The new process introduces three application windows per year for all phases of projects, rather than just one.
This allows for more flexibility in start dates and project duration.
Projects can now move from Discovery to Beta in as little as 23 months, a reduction of up to eight months from the previous timeline.
Recent funding of £95 million has been allocated to ten projects focusing on technologies like artificial intelligence (AI) for energy network risk prediction and circuit breakers for offshore wind integration.
The revised process is intended to make it easier and faster for projects to receive funding.
Marzia Zafar, Deputy Director Strategy – Energy Systems Management and Security at Ofgem, said: “In the past few decades, the energy system has already begun to move from its old way of thinking and doing to adopting new technologies like smart meters and new arrangements to create flexibility in the energy system.
“There is still more that needs to be done, we need longer duration energy storage and seasonal storage.
“We need households to have smart devices that automatically flex when the system sends signals. We need nuclear, carbon capture utilisation and storage, offshore wind, onshore wind and digital solutions that can use machine learning to run the energy system efficiently and visibly.”
Jodie Giles, Innovate UK, Strategic Innovation Fund Programme Director, said: “As we strive towards net zero, we are continuously improving how we support innovation.
“With these improvements, we aim to accelerate the delivery of transformative solutions and drive forward the energy transition with greater efficiency and flexibility.”
