A report from industry body Scottish Renewables has identified six key innovation areas for which the funds could be strategically allocated to ensure renewable energy future.
The areas include wave and tidal energy, storage technologies, floating offshore wind, low-carbon heat, systems integration, and flexible networks.
According to the new paper, the UK Government’s £500m funding, which was announced in November 2015, could create a world-leading energy system if used in the right way.
Scottish Renewables policy Hannah Smith officer said: "The UK Government’s commitment to double the spend on energy innovation to £500m over five years has the potential to drive dramatic advances in our energy system.
"Scottish Renewables’ new paper highlights the importance of the strategic allocation of these funds, and identifies six technology areas that have real potential to benefit from this funding, propelling British business to the forefront of a truly world-leading, next-generation energy system."
The Department of Energy and Climate Change said earlier that the doubling innovation program to £500m over next five years could strengthen security of supply, reduce the decarburization costs and boost industrial and research capabilities.
Smith added: "Our world lead in tidal technology, for example, owes much to the continued development of onshore wind, with technology for the former deriving from decades of study into the latter.
"Now new technologies like wave energy and storage have the potential to revolutionise the way we produce energy."
