30-05-2025
€19bn bonanza in Ireland's sustainable energy transition
Fulfilling Ireland's energy transition could result in up to €19 billion of capital expenditure annually by 2030.
A report by SEAI identified the significant economic opportunity presented by the sustainable energy transition and outlined a number of key recommendations for how policymakers and industry can support Irish businesses to take advantage of this opportunity.
'Ireland can reap the economic benefits of a fossil fuel-free economy and society,' said William Walsh, CEO of SEAI. 'This report identifies the growth potential of 13 key technologies for the sustainable energy transition, and the supply chain areas where Irish businesses have potential opportunities to benefit from this growth.'
He highlighted that there are potential opportunities for many businesses, similar to those exhibiting at the yearly SEAI Energy Show, to benefit from Ireland's energy transition.
'At SEAI, we are committed to supporting businesses across the Irish energy supply chain to deliver both a sustainable energy future and a healthy, future-proof economy for Ireland. Sustainable energy is good for business and good for climate.'
The report identifies the importance of collaboration between the public and private sector in meeting our energy transition goals and sets out six key recommendations.
These include:
Developing skills and certifications — establish targeted training programs and accreditation frameworks to develop the necessary skills and certifications for installers and energy experts.
Leveraging R&D capabilities — utilise Ireland's strong R&D capabilities to advance emerging renewable technologies.
Promote sustainable practices — encourage businesses to adopt sustainable practices such as green procurement and comply with EU directives and legislation for sustainable and responsible business.
Focus on high-value markets — effectively harness the opportunities available by prioritising high-value markets such as energy-efficient construction, sustainable biomass heating, electric vehicles, and smart grids.
In addition, the report highlights the potential market size for a selection of key sustainable energy technologies in Ireland, the EU and globally, in addition to areas of the supply chain where Irish businesses in the manufacturing, construction and services sectors could capture a share of the market.
Ultimately, the purpose of the report is to initiate discussions between government agencies and departments, industry and other stakeholders on how to harness the sustainable energy supply transition to both reduce greenhouse gas (GHG) emissions and stimulate economic growth, exports, foreign direct investment and jobs.
Structured around five technology areas that will be critical to meeting Ireland's greenhouse gas mitigation targets — it underscores renewable electricity generation, energy storage and grid balancing, low-carbon transport, energy in buildings and energy in industry.
'What this report highlights is that this energy transition will deliver for both our planet, and our economy, creating significant opportunities for Irish businesses in the supply chain where Ireland is well positioned to capitalise,' said Darragh O'Brien, Minister for Climate, Environment and Energy . 'The Programme for Government is committed to Ireland's climate targets and to the energy transition which will lead to a more secure, sustainable and affordable energy future for our citizens and businesses.'
