At the launch of the report, the Minister for Communications, Energy and Natural Resources, Mr Pat Rabitte, TD said “As the sustainable energy transition continues to gather momentum, Ireland must position itself to capture the economic benefits available. This requires diverse skillsets, as well as technology-specific knowledge, characteristics that Ireland’s flexible and well educated workforce is ready to provide.”
Over the last five years, the SEAI Better Energy: National Upgrade Programme has resulted in an average investment in energy efficiency-related construction of around €230m a year. Since 2009, 340 projects have been completed under the Better Energy Workplaces programme in business and the public sector. The total value of energy savings from technologies deployed through this schemes and the Better Energy Home upgrade to date stands at over €100 million per year.
The table below, taken from the report outlines the size of the Irish market for a range of sustainable energy supply chains including the estimated annual expenditure for the Irish market to 2020. With an estimabed annual investment of between €2.2billion to €2.6 billion required for investment in sustainable energy technologies.
SIZE OF IRISH MARKET FOR SUSTAINABLE ENERGY SUPPLY CHAINS
The technologies outlined in this table are supported by the Irish Government, details are outlined in the National Renewable Energy and the National Energy Efficiency Action Plans with an expansion of these policies aimed at increasing the rate of deployment of sustainable energy technologies and services.
Recent announcements include the opening of a €70 million National Energy Efficiency Fund, which is expected to leverage €300 million of investment. Further support is available through an Energy Efficiency Obligation Scheme (EEOS) requiring energy suppliers to achieve energy savings targets with final consumers between 2014 and 2020. This Scheme is compelling utility companies to provide support for energy efficient upgrades.
Frontline Energy are working closely with a number of utility companies, helping identify and implement energy efficiency upgrade projects. Click here to view a number of recent building upgrade works.
There is additional potential in the business and public sectors, which are currently being supported by SEAI’s programmes for business, including the Large Industry Energy Network (LIEN), SME supports and the Public Sector Programme.
In addition to the requirements to meet Ireland’s sustainable energy targets, there are further business opportunities in EU and international markets, with the EU market estimated to be 70 times that of Ireland. As a clean energy location, with a more diverse and secure energy supply, together with active supply chains, Ireland has the opportunity to attract further Foreign Direct Investment in this area.
To find out if your business, building or facility is eligible for any of the supports available, get in touch with one of our Energy team by phone or email for more information.
Contact: email@example.com or call + 353 1 643 2100.