Innovate UK announced a new £41.5mn fund for smart energy business models on Tuesday 8 May. The money will support the design and practical demonstration of new models that intelligently link supply, storage and demand in heating, power and transport. The fund is divided into two parts with up to £40mn available for three smart energy system demonstrators and up to £1.5mn available for studies into new, smarter approaches to local energy. The competition aims to prove that smarter local energy systems can deliver cleaner and cheaper energy services by the early 2020s. Entries should be designed to reduce energy bills by at least 25% and cut carbon emissions in line with targets. Businesses could attract up to 45% of their project costs. The deadline for applications is 25 July.
