Positive Wind Energy Impacts to Ripple through Irish Economy, New Research Reveals. A report unveiling “The Value of Wind Energy to Ireland” was launched today at the IWEA Annual Conference in Dublin. This detailed new independent research, shines a new light on the economic benefits of further developing clean renewable wind energy.
Using wind energy to meet Ireland’s 2020 targetsand adding further capacity up to 2030, willdramatically reduce Ireland’s costly dependency on foreign energy, lower wholesale electricity prices and deliver €1.8 billion in new tax revenue to the Irish state, all without leading to any cost to Irish consumers, finds the study into the economic impact of the wind energy sector in Ireland.
“The Value of Wind Energy to Ireland” report developed by Pöyry, a leading international consulting and engineering consultancy and Cambridge Econometrics, a leading independent consultancy specialising in applied economic modelling, theresearch, and supported by the Sustainable Energy Authority of Ireland (SEAI), Coillte, SSE and IWEA, represents the most comprehensive independent study ever conducted into the economic impact of wind energy development in Ireland andshines a new light on the economic benefits of further developing clean renewable wind energy.
The report, launched at the annual conference of the Irish Wind Energy Association (IWEA)sponsored by ENERCON, in Dublin today highlights that by installing the 3.8GW of wind capacity required to meet the Republic of Ireland’s 2020 targets and developing a further 1.6GW between 2020 and 2030, to meet domestic energy demand, the wind energy sector would:
- Deliver €8.3 billion of investment into the Irish economy
- Significantly contribute to economic growth
- Provide at least €1.8bn additional cumulative tax revenue to the Irish State
- Lower wholesale electricity prices
- Lead to no additional cost to Irish consumers
- Save Ireland €700 million per year in fossil fuel imports and reduce the country’s dependency on energy imports
- Support 22,510 jobs
- Protect the environment by significantly reducing CO2 emissions
Speaking about the report launch today, Kenneth Matthews, CEO of IWEA, said:
“At a time when energy supply and security is at the top of the international agenda, this report clearly demonstrates the very considerable economic, environmental, social and security of supply benefits the continued transition towards wind energy will bring to Ireland.”
“To fully deliver on these benefits, it is now essential to maintain momentum and remain focused on achieving our 2020 renewable energy targets with a view to continuing to grow the sector beyond 2020 for the benefit of all our communities.”
Jude Byrne, Director of Wind Energy at Coillte said;
“Coillte has a fundamental role to play in helping Ireland meet the legally binding EU Directive 2020 renewable energy targets, through the sustainable development of wind farms on our lands. Coillte has been active in the industry for the past 15 years and we have a current portfolio of wind farm development projects that exceeds 500MW. We welcome the comprehensive findings of the Poyry / Cambridge Econometrics report, which provides unequivocal evidence of the economic, social and environmental benefits that renewable wind energy can deliver to Ireland and its citizens.”
Source: Coillte – Positive Wind Energy Impacts to Ripple through Irish Economy, New Research Reveals
