Ofgem – Strategic Innovation Fund

The UK energy market regulator, Ofgem, in collaboration with UKRI, has announced the opening of applications for the next round of the Strategic Innovation Fund (SIF) on the 23rd September 2024.

The SIF aims to fund innovative projects by facilitating collaborations between businesses, academics, and energy networks. These projects are designed to benefit consumers by accelerating the transition to net zero and minimising costs. The fund will invest £450 million in energy innovation by 2028.

Benefits for energy consumers include:

• Reduced costs and improved value for money
• Development of innovative products and services
• Enhanced energy security.

Benefits for businesses include:

• Support for growth and scalability
• Opportunities for collaboration
• Stimulation of further investment.

To receive funding, applicants must have an energy licence. 

This includes:

• electricity transmission and distribution companies
• gas transmission and distribution companies
• Distribution Network Operators
• the Electricity System Operator.

Organisations and individuals that partner with a licence holder can also apply for funding.

Innovation partners could include:

• consultancies
• universities
• large and small businesses
• think tanks
• independent innovators.

Click here to find out more.