- The REA is delighted that the consultation for a Long Duration Electricity Storage Support Mechanism has launched today.
- Long duration electricity storage has a critical role to play in enabling the delivery of a decarbonised energy system.
- Represents a significant win for REA campaign and report calling for precisely this policy measure.
The REA (Association for Renewable Energy and Clean Technology) has welcomed today’s news that Government will launch a consultation into a Long Duration Electricity Storage Support Mechanism.
This consultation sets Government’s intention to develop a cap and floor mechanism to overcome investment barriers. The consultation seeks views on several elements, including eligibility criteria for assessing applications, the design of the cap and floor mechanism and proposed options for delivering the scheme.
This represents a major win for the REA, which has been calling for this measure for over two years, most significantly in the ‘Longer-Duration Energy Storage: The missing piece to a Net Zero, reliable and low-cost energy future‘ position paper published in 2021.
Long Duration Energy Storage will enable a smart and flexible energy system that will help align large volumes of low carbon power generation with increasing electricity demand as we electrify our heat and transport needs. Delivery of long duration storage technologies is therefore critical to realising our net zero ambitions.
Frank Gordon, Director of Policy at the REA (Association for Renewable Energy and Clean Technology) said:
“REA welcomes the publication of proposals to reward the considerable system benefits from longer duration energy storage systems with a new support mechanism. We need much more of this valuable resource, alongside all forms and durations of energy storage, to make the transition to a Net Zero energy system as smooth and cost effective as possible. It is something we and others have been calling for over a number of years.
We look forward to discussing the details with Government and our members and working together on implementation as soon as possible.”