Latest news with #EnergyTransitionOutlook:Ireland
RTÉ News
6 days ago
- Business
- RTÉ News
Electricity demand set to grow by two thirds by 2050
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.
Irish Examiner
29-07-2025
- Business
- Irish Examiner
Energy transition at a crossroads as data centres to use 20% of power by 2030
Ireland's energy transition is at a crossroads with data centres expected to account for 20% of all power by 2030, and major investment needed to cope with demand, a new report warns. The report by Pinergy in collaboration with global consultancy Wood Mackenzie predicts that Irish electricity demand will grow by two thirds by 2050, with on-grid power generation climbing 16% by 2030, but says that current progress is insufficient to meet key energy targets. The 'Energy Transition Outlook: Ireland' recommends that a wider shift to low-carbon energy sources is needed if Ireland is to meet legally binding net zero targets set for 2050. "Ireland's energy transition is at a crossroads and we must invest in our future," said Pinergy chief executive Enda Gunnell. "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." The report said that EV adoption is on course to meet 2025 goals but falls short of 2030 targets by 35%. In order to meet our EV targets, the report predicts Ireland needs to accelerate our adoption rate by 54%. Heat pump adoption trails 2030 target by 461,000 units, 68% behind 2030 targets. Data centres are projected to consume 8.6 TWh of electricity from the grid by 2030, accelerated by the demands and use of artificial intelligence. "This energy consumption is equivalent to powering two million homes, placing significant strain on the grid. As the grid capacity increases and the electrification of heat and transport intensifies, the share of total power demand for data centres is expected to fall to 16% by 2050." Mr Gunnell welcomed the planned €3.5bn investment announced in the revised National Development Plan earmarked for Ireland's electricity grid infrastructure. "This is badly needed as getting grid connections, large and small can sometimes be slow. We want to see a dynamic agile grid that utilises technologies like AI to deliver a grid fit for the next century that builds upon the work of the last century. The investment announced last week is a great first step, but we may need to see more investment beyond the initial amount in NDP." Ireland is projected to fall 4GW short of its 5GW offshore wind target by 2030 as projects suffer delays and cancellations. "This decade is pivotal to the energy transition and results rather than ambition alone will be the measure of success,' said Lindsey Entwistle, senior analyst at Wood Mackenzie. 'Globally, geopolitical turmoil is creating headwinds for the energy transition. Costs have risen and uncertainty has increased across energy supply chains. Domestically, the sluggish adoption of critical technologies such as electric vehicles and heat pumps risks delaying the transition over the next decade.' Pinergy supplies 10,000 business and 28,000 residential customers. Mr Gunnell said Ireland's grid must be robust enough to deal with outside factors. "We need a grid which distributes electricity generated by renewables locally both on shore and offshore that ensures we as an island are not exposed to geo-political risks as we have seen since 2022." "We need to invest in a mix of renewables that generate electricity across wind and solar but also hydro and renewable gases together with storage that ensures we have a balanced mix to ensure there are no outages. Some fossil fuels may n
