As part of the Industrial Strategy Challenge Fund the Government will invest in the “Prospering from the Energy Revolution” Industrial Strategy Challenge Fund (ISCF) to make the UK a global centre for integrated energy systems that deliver cleaner and cheaper energy. UK Research and Innovation (UKRI), in collaboration with the Department of Business, Energy and Industrial Strategy (BEIS) and Knowledge Transfer Network (KTN), would like to invite you to attend a briefing event to hear about the new funding programme and how you can get involved.
Background: The world is embarking on a revolution in how energy is supplied. Over the coming decades at least $2 trillion each year will be invested around the world in the transition to low carbon power, transport, heat and localised, digitally-connected energy systems. The UK has world-leading energy and environmental researchers, businesses, policy, regulation, technologies, infrastructure and innovators. We believe that integrating these through a smart local energy systems approaches will give the UK the opportunity to develop an industry built around delivering new consumer-friendly energy services and markets that are cheaper, cleaner, flexible, and more resilient to environmental and social change.
What is the opportunity? The “Prospering from the Energy Revolution” Challenge Fund will support industry, academia, public bodies, and local communities to develop a world-leading, smart local energy systems industry in the UK. We expect this industry to be worth billions of pounds by the early 2020s, supporting tens of thousands of new high-value jobs associated with design, testing, manufacture, financing, installation, and operation of new energy products and services across the wider low carbon energy economy.
The “Prospering from the Energy Revolution” Challenge Fund will deliver an integrated programme comprising competitions for local demonstrators and designs across the UK, supported by national-scale capabilities and facilities to support sustainable industry growth. We expect this to lead to intelligent and highly investable solutions that make the best use of cheaper renewables, energy storage, electric vehicles, energy efficiency, low carbon heat, and digital infrastructure.
The briefing events will include: