Impact of the energy research programme: aggregate report (PDF)
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This study carried out by Perspective Economics comprises an independent review of 17 Energy Programme grants and an aggregate analysis of data and documentation regarding the programme in its entirety.
Key findings include:
- EPSRC has invested £1.1 billion within in-scope research areas since 2004 via 1,233 grants led by 695 principal investigators across 84 research organisations
- funding provided via the Energy Programme exhibits a positive appetite for risk, often providing initial investment, acting as a catalyst for follow-on funding from both the public and private sectors, and accepting the degree of uncertainty that comes with early-stage investment in energy research
- researchers supported by the programme have produced c.23,500 research outputs and have delivered more than 1,000 tangible policy impacts, most notably in terms of energy economics, sustainability, and energy regulation
- the programme has contributed to advancing research skills and networks
- in 2005 project partners generated £233 billion in UK revenues and employed c.1.1 million people; by 2018 the employment figure had almost doubled, and UK revenues had increased to c.£500 billion
- analysis of secondary data demonstrates that in 2019 the spin-out companies supported by the programme generated known UK revenues of £28.9 million and employed 180 people. Since 2010 13 of these spin-out companies have secured a total of £49.3 million of investment.