Has the Low Carbon Network Fund been successful at stimulating innovation in the electricity networks?
Dr Aidan Rhodes, Imperial College London, United Kingdom Prof Jim Skea, Imperial College London,United Kingdom Ms Renee Van Diemen, Imperial College London, United Kingdom The UK electricity networks are currently undergoing a period of considerable change, driven by two major causes. The first is the need to incorporate increasing quantities of variable renewable generation at distribution level, as well as to prepare for increasing levels of electrification in heating and transport. The second are the new opportunities arising from the incorporation of ICT technology into the networks, including smart metering, smart appliances, demand-side participation and the development of new business models and services which facilitate active consumer engagement. Due to these factors, there is currently a period of exceptional innovative activity in the networks sector, with substantial public funding (£81 million p.a) provided through the Ofgem-administered Low Carbon Network Fund (LCNF) and its successor the Network Innovation Competition (NIC). Funding from customer bills is funnelled through network operator-led consortia to assist the development of a culture of innovation in these organisations, a novel mechanism for public innovation stimulus both within the UK Read more…Rhodes-Low-Carbon-Network-Find-Innovation.pdf 1.45 MBRhodes-Low-Carbon-Network-Fund-Innovation.pdf 818.93 KB