Sadly this is very typical of the UK government, especially in the clean energy sector. With one face they make a host of positive announcements about energy storage and it's game-changing importance, and then with their other face announce cuts like this. They also espouse their commitments to address climate change, and then in the Budget they announce yet more tax breaks for North Sea oil companies. It' s hugely frustrating for all in the sector. Those in wind, solar and storage have all suffered similar 'Double Speak', Will they do the same to EV's, having been so 'pro' in the last few months?
The changes, announced today by the Department for Business, Energy, and Industrial Strategy (BEIS), would cut de-rating of battery projects by 80 per cent in upcoming auctions. As a result, participating in the auction could become unprofitable for short-duration battery projects.