Lord Bourne has reaffirmed the UK Government’s support to boost innovation in clean technologies.
Speaking at an event in London, the Parliamentary Under Secretary of State at DECC said green innovation is vital to tackling climate change and supporting the country’s transition towards a low carbon economy.
The innovation programme aims to “stimulate and leverage private sector investment in the most promising technologies and systems”.
He said: “It is becoming increasingly clear that investing in green innovation is crucial and cross-cutting right across the energy agenda. From community energy, biogas, hydrogen and heat pumps, to digital platforms and demand side response and storage.
“Not only is green innovation in energy technologies vital but so are radical new models or business ideas and price-lowering competition and novel approaches in the energy markets.”
Lord Bourne added DECC is doubling its five-year budget for clean energy research, development and demonstration.
It will be worth more than £500 million, with around £250 million to be invested in nuclear innovation.
He said: “These are small nuclear power stations – up to 300MW in size – that could be factory-made in the UK. Each one could supply the total annual electricity needs of around 500,000 households.”
He went on to say DECC will ensure the clean energy technology priorities “fit with our wider departmental goals on decarbonisation, smart systems, heat in homes and in industry and energy efficiency”.