Renewable energy is key to increasing Ireland’s energy independence, security of supply and affordability.
Ireland’s near-term priorities are reaching the decarbonisation targets set out in the Climate Action Plan and seeking to ensure that the energy transition is affordable to the Irish consumer. ORE projects beyond domestic net zero requirements will only be deployed following environmental, social and economic appraisal.
As we reach our full generation capacity, prioritizing domestic demand becomes essential, therefore, future policy reviews will closely align with the Department of Enterprise, Tourism and Employment’s Powering Prosperity Strategy to ensure that offshore renewable projects effectively meet domestic energy needs and market off-take requirements enabling decarbonised economic growth.
Longer term, there is also the opportunity to take full advantage of emerging export market opportunities, which will contribute to a climate-neutral European Union by 2050, in line with the Paris Agreement. This potential will be explored but can only be achieved with national ambition and a strategic long-term policy planning approach.
In addition to increasing our security of supply and enabling export of any excess energy, increased electricity interconnection will also bring competitive pressures on Irish generators through exposure to the connected markets. However, the benefits accruing from additional interconnection will also depend on the evolution of the energy systems in Ireland, the UK and continental Europe.
