UK launches cap-and-floor scheme for long duration energy storage

The UK government has unveiled a cap-and-floor scheme to kick start investment in long-duration energy storage. The first round of applications is scheduled for 2025. From ESS News The UK government has announced a new "cap-and-floor" scheme to support the rollout of long-duration storage capacity, in a bid to spark investment in both mature and new storage technologies. Energy industry regulator Ofgem will serve as the delivery body for the scheme, which is expected to open for applicants in 2025. Cap-and-floor schemes operate by providing revenue support to developers should their annual gross ...

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