UK will subsidise storage projects
UK eyes 15-year support for H₂ storage projects
Government inclined to guarantee project revenues in bid to reassure investors, according to update from Department for Energy Security and Net Zero
The UK government is inclined to subsidise geological hydrogen storage projects via a support scheme that guarantees a minimum level of revenue for at least 15 years, according to a consultation response published by the Department for Energy Security and Net Zero. However, support is unlikely to be granted to above-ground facilities, or projects based on chemical storage such as ammonia, except under special circumstances, the department added. The government has committed to finalise the design of a subsidy business model for storage by 2025. Its latest consultation response describes this target as “challenging” but also warns of the potential impact of delays to the model. The gove
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