Theresa’s Green Paper to support Affordability and Innovation

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On Monday 23rd January 2017, Theresa May announced an industrial strategy green paper, supporting significant investment in the development of technologies which are strategically important to the UK’s future industrial strength.

The Department for Business, Energy and Industrial Strategy (BEIS) issued the “Building our Industrial Strategy: green paper”, a 132-page paper presenting some of the government’s ideas “to change the way our country works”. UK’s energy sector should play a big role in providing smarter, more cost-efficient and secured power to businesses and households, including a special mention to energy storage and smart technologies.

The development of smart and clean energy technologies (such as storage and demand response grid technologies) will benefit from the launch of a new £4.7 billion Industrial Strategy Challenge Fund which will also support robotics, artificial intelligence and 5G mobile networks.

The government said it would further review the opportunities for growth from the energy sector and added that grid technologies was an area it had earmarked for potential growth.The green paper does is to start a consultation, in which BEIS will receive responses up to April 17, 2017.