A major £246 billion investment will help establish the UK as the world leader in battery technology.
UK Business and Environment Secretary Greg Clark announced major funding for battery technology this week as the first phase of Britain’s Industrial Strategy roll-out.
The Faraday Challenge was launched with a £45 million competition to establish a battery research centre. The challenge aims at making battery storage technology more accessible and affordable.
The Industrial Strategy aims to position the UK as world leader in the design, development and manufacture of electric batteries.
Efficient energy storage boosts productivity
Mr Clark talks about the need to maintain Britain’s competitive edge through smarter work practices, innovative technology and increased energy efficiency.
To boost productivity and earning power, the Faraday Challenge will concentrate on developing research, innovation and scale-up of battery technology.
- Research: Supporting world class research and training in battery materials, technologies and manufacturing processes.
- Innovation: Using collaborative research and development competitions to move product closer to market.
- Scale-up: Developing real-world use and application of state-of-the-art battery technology.
A competition from the Engineering and Physical Sciences Research Council will pool expert resources to create a ground-breaking Battery Institute.
Australian battery technology initiatives
The hunt is also on in Australia for more efficient, affordable and effective solar battery solutions.
As part of the Finkel Review, Chief Scientist Alan Finkel recommended major wind and solar generators within Australia have energy storage capacity.
This ensures a reliable energy supply at night, on cloudy days and when the wind isn’t blowing.
In addition, three state governments – South Australia, Victoria and Queensland – have branched out on their own battery storage solutions.
- South Australia: Elon Musk’s Tesla is set to build the world’s largest lithium battery in South Australia’
- Victoria: In March 2017, the Victorian Government pledged an extra $20 million investment in large-scale energy storage.
- Queensland: More than 32% of Queensland’s homes have rooftop solar panels, and batteries are gaining in popularity.
