UK Gov’s Battery Plan Failing

Friday 20 September 2024

A groundbreaking new report has shed light on the immense potential of battery storage technology, revealing that harnessing this power could lead to a significant reduction in energy bills by up to 65 per cent.

The report, published by Joulen, a leading technology and energy services company, emphasises the urgent need for the government to develop a comprehensive battery strategy. Such a strategy would not only help lower energy costs for consumers but also contribute to grid stability and promote the transition towards a cleaner, more sustainable energy system.

According to the findings, unlocking the untapped potential of battery storage could result in substantial savings for both small businesses and households. Small businesses stand to benefit from an increase in revenue of up to £75,000, while households could see a reduction in their bills amounting to £375.

Furthermore, the report highlights the significant environmental impact that increased investment in on-site renewable energy and battery systems could have. If just five per cent of businesses in the UK were to invest in these technologies, the carbon dioxide emissions saved would be equivalent to taking 45,000 cars off the road by 2030.

To realise these benefits, the government must incorporate batteries into existing initiatives such as the Rooftop Revolution and the Warm Homes Plan. Additionally, measures should be implemented to facilitate easier market access for all types of batteries through Virtual Power Plant (VPP) technology.

Moreover, the report underscores the importance of incentivising battery investment and broader market participation. This can be achieved through mechanisms such as tax incentives and improved data utilisation to enhance returns for investors.

Chris Doherty, the Managing Director at Joulen, emphasised the critical role of batteries in the grid’s decarbonisation process. He highlighted the need for every battery to be able to participate in the market efficiently, as well as the necessity of optimising existing renewable energy capacity. Doherty stressed that by maximising the value of small-scale battery and renewable systems, significant cost reductions could be achieved, benefitting small businesses and households across the UK.

Doherty concluded by calling on the government to implement a comprehensive Better Battery Strategy. He stressed the importance of democratizing clean energy and securing a sustainable future for all through strategic battery deployment.

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