Electricity demand set to grow by two thirds by 2050
This increased demand will be driven in the short term by the needs of data centres, according to the report by Pinergy and global insight business Wood Mackenzie.
In the long term, it states that electricity demand growth will be fuelled by changing consumer behaviour towards low-carbon choices, particularly through electric vehicle adoption and the electrification of heating systems in residential and commercial buildings.
The 'Energy Transition Outlook: Ireland' report tracks Ireland's performance on the energy transition journey and highlights the critical role that renewables and electrification must play in the country's energy transformation.
It reveals that renewables are on track to contribute 80% of generated electricity by 2030 and 93% by 2050.
Meanwhile, EV adoption is on course to meet 2025 goals but falls short of 2030 targets by 35%.
Heat pump adoption trails the 2030 target by 461,000 units.
"Ireland's energy transition is at a crossroads and we must invest in our future," said Enda Gunnell, CEO at Pinergy.
"We've set ambitious goals and commitments, but this report makes it clear we must move from aspiration to urgent, tangible action. The time for deliberation is over.
"We welcome the planned €3.5bn investment announced in the revised National Development Plan, earmarked for Ireland's electricity grid infrastructure," he added.
Mr Gunnell said this funding will be "critical" in order to make the necessary infrastructure investments required.
While Ireland is placed 20th for renewables in electricity among the most advanced economies, the report states that it is expected to move to 11th place overall in 2030.
However, without adjustments for delays in offshore wind projects, original predictions had placed Ireland in 8th place in this ranking.
Denmark leads the way on the top of the leaderboard, achieving 100% renewables by 2030, due to an aggressive climate strategy and greater investment in renewables.
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Electricity demand is set to grow by two thirds by 2050, a new report shows. This increased demand will be driven in the short term by the needs of data centres, according to the report by Pinergy and global insight business Wood Mackenzie. In the long term, it states that electricity demand growth will be fuelled by changing consumer behaviour towards low-carbon choices, particularly through electric vehicle adoption and the electrification of heating systems in residential and commercial buildings. The 'Energy Transition Outlook: Ireland' report tracks Ireland's performance on the energy transition journey and highlights the critical role that renewables and electrification must play in the country's energy transformation. It reveals that renewables are on track to contribute 80% of generated electricity by 2030 and 93% by 2050. Meanwhile, EV adoption is on course to meet 2025 goals but falls short of 2030 targets by 35%. Heat pump adoption trails the 2030 target by 461,000 units. "Ireland's energy transition is at a crossroads and we must invest in our future," said Enda Gunnell, CEO at Pinergy. "We've set ambitious goals and commitments, but this report makes it clear we must move from aspiration to urgent, tangible action. The time for deliberation is over. "We welcome the planned €3.5bn investment announced in the revised National Development Plan, earmarked for Ireland's electricity grid infrastructure," he added. Mr Gunnell said this funding will be "critical" in order to make the necessary infrastructure investments required. While Ireland is placed 20th for renewables in electricity among the most advanced economies, the report states that it is expected to move to 11th place overall in 2030. However, without adjustments for delays in offshore wind projects, original predictions had placed Ireland in 8th place in this ranking. Denmark leads the way on the top of the leaderboard, achieving 100% renewables by 2030, due to an aggressive climate strategy and greater investment in renewables.
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