Energy Industry

Datafox specialises in delivering R&D Tax Credits for those within the Energy sector.

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The UK’s energy sector is constantly evolving to meet the changing demands of the people and industries that rely on it for their functioning. The growing interest and inclination towards utilising renewable energy have also driven more investment and led to an increase in R&D activities in the energy sector. So much so, that the industry contributed 1.5% of annual business expenditure on research and development in 2018. As the focus on climate change and the need to figure out an alternative, renewable energy sources becomes more prominent across the world, the extent of R&D being conducted is only expected to increase in the coming time. 

Innovation has always remained at the forefront of all R&D projects within the energy sector. Whether it is trying to harness maximum energy from renewable sources, or creating smart energy meters, this industry has plenty of scope for extensive R&D and innovation. Although several businesses are trying to achieve innovation within the energy sector, not many are aware that their research and development can help them receive funding from the government in the form of R&D Tax Credits. Some of the areas that could qualify include:

• Increasing the energy yield from existing or reduced resources
• New prototype development and testing of innovative energy systems with improved efficiency
• Improving commercial viability of existing or new energy systems
• Development of alternative, eco-friendly fuel mixes
• Improving the reliance and efficiency of energy distribution networks
• Development of innovative smart meters that show improved efficiency and accuracy