The winners included Highview, which has developed a system that uses liquid nitrogen to achieve the triple goals of storing energy, converting waste heat to power, and delivering air conditioning.

Today, the UK has 3GW of pumped hydro storage, most of which is located in North Wales to provide reserve power for now defunct nuclear and coal plants. But with an increasing amount of renewable energy being added to the grid, ESN believes storage capacity should be ramped up to at least 5GW by the end of the decade.

The association today urged the government to set a clear target to install an additonal 2GW of storage capacity by 2020, requiring an investment of £4bn, but potentially saving £3bn per year by 2020.

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