​Ofgem has approved £84 million in funding for 12 new projects aimed at accelerating the UK's transition to net zero. The funding, part of the Strategic Innovation Fund (SIF), is designed to support innovations that will help to reduce carbon emissions and create sustainable and clean energy solutions.

The initiative which is delivered in partnership with Innovate UK, will see a range of projects benefit from financial backing. These projects are expected to deliver environmental, financial, and social benefits, aligning with the UK Government's wider ambition to establish the country as a global leader in clean energy.

One of the key initiatives to receive funding is SHIELD, a project led by UK Power Networks. The project aims to improve access to low-carbon technology for low-income households, helping to ensure that the shift towards clean energy is inclusive. Another major project is the Flexible Railway Energy Hubs, which is spearheaded by SP Energy Transmission and focuses on decarbonising Network Rail's infrastructure, contributing to the wider effort to reduce emissions from the transport sector.

In addition, the National Grid Electricity Systems Operator, in collaboration with the Welsh Government, is leading the Powering Wales Renewably project. This initiative aims to enhance renewable energy generation and improve the resilience of the energy system in Wales, helping the country meet its own carbon reduction targets while supporting the UK's broader ambitions.

The funding comes as the UK pushes forward with its commitment to reaching net zero by 2050, with an interim target of reducing emissions by 68% by 2030. These projects are seen as critical in driving innovation in the energy sector and ensuring that new technologies are viable and scalable, offering long-term benefits to consumers and the environment alike.