In a press statement, the Department of Energy (DoE) said its office launched the ‘Innovation Crossroads programme’ which will fund projects being implemented by developers of smart grid solutions.
The programme is set to begin operation in early 2017 and is designed to increase the pace of smart grid innovation.
The Innovation Crossroads programme will provide smart grid solutions firms with laboratory equipment to improve their technologies.
The five projects to benefit from the new initiative will implement research and development of their solutions at the DoE’s Oak Ridge National Laboratory.
In addition, the Innovation Crossroads will provide its beneficiaries with capital to fund their living, benefits and transport costs of up to two years during research and development of their technologies.
[quote] The Office of Energy Efficiency and Renewable Energy will provide the five projects with $350,000 each to implement collaborative research and development of their solutions.
Mark Johnson, director of the Advanced Manufacturing Office at EEERE, said: “This program gives the next generation of clean energy innovators a chance to make a transformative impact on the way we generate, process and use our energy resources. Innovation Crossroads will play an important role in strengthening the Southeast region’s entrepreneurial ecosystem.”
The programme will also assist its beneficiaries to develop business strategies, conduct market research and find long term financing and commercial partners. [Rise in smart grid investments to drive grid automation market]
Smart grid solutions funding
Earlier on this week, the US DoE issued $37 million in funding to improve research and development of energy storage solutions.
The DoE said the funding aims to ensure adequate supply of electricity for grid reliability.
The capital will be used to develop innovative energy storage solutions which would support increased adoption of renewable energy sources.
In addition to ensuring grid security, the capital will allow local energy storage technology providers to play their role in reducing carbon emissions.
The grant will fund 16 energy storage innovation projects. The funding will be released under a new programme launched by DoE’s Advanced Research Projects Agency-Energy (ARPA-E).
ARPA-E will issue the funding under its Integration and Optimisation of Novel Ion-Conducting Solids (IONICS) programme.
The IONICS programme will focus on enhancing energy storage and conversion technologies in the transportation, grid and fuel cell sectors.
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