According to Eamon Ryan, Ireland’s Minister for Environment and Climate, there was doubt whether Ireland could achieve its goal of attaining 5 gigawatts [GW] of installed solar power capacity by 2025. However, by 2023, Ireland was estimated to produce between 800 and 1000 megawatts from solar panels. Importantly, Ireland plans to double the solar power generation to 2000 megawatts in 2024 and continuously increase solar electricity production in 2025.
As you can tell, solar panels are increasing in popularity in Ireland. Let’s delve into some of the reasons for this phenomenon outlined by PV Generation.
Ireland Has Committed to Embrace Renewable Energy
The Irish government has been at the forefront of pushing humanity to transition from fossil fuels to renewable energy sources, such as solar energy. As part of its Climate Action Plan, the Irish government has set an ambitious target to generate 70% of its electricity from renewable sources by 2030.Â
This commitment has thrust solar panels, one of the best renewable electricity sources, to the forefront of energy production. Consequently, there has been a widespread adoption of solar panels by homeowners and businesses.
Favourable Government Incentives and Initiatives
The Irish government is walking the talk and actualising its commitment to transitioning to green renewable energy. To increase the country’s proportion of green and renewable energy, the government of Ireland has created and implemented a raft of incentives and initiatives to enhance the widespread adoption of renewable energy.Â
For instance, it has created the Renewable Electricity Support Scheme (RESS) program, designed to provide financial support for installing renewable energy projects, including solar panels. Additionally, the Sustainable Energy Authority of Ireland (SEAI) offers grants to homeowners and businesses to install solar panels with SEAI registered companies such as MMK Solar.Â
The Irish government has also removed VAT on solar panels, significantly reducing the cost of transitioning to renewable solar electricity. This was accompanied by easing planning rules and paperwork needed for homeowners to invest in solar panels.
These government incentives and initiatives have sped up the proliferation of solar panels across Ireland.
There is a Financial Upside to investing in Solar PV PanelsÂ
While the Irish government has played a huge role in growing the popularity of solar panels in Ireland, more and more farmers, households, and businesses have embraced solar panels for the financial benefits they stand to accrue. Some of the economic benefits that have led to an organic growth of solar panel popularity include:
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It Reduces the Cost of Electricity – One of the main benefits of investing in solar panels is reducing energy costs. Many Irish farmers, homeowners, and businesses have been spurred to invest in solar panels by the potential to reign in the ever-increasing energy costs.Â
In Ireland, a typical household has the potential to reduce their electricity bills by about €450 per year. With the solar panels generating 75% of the solar electricity between May and September, households could potentially pay no bills during these months. In some cases, they may produce excess energy they sell by supplying to the grid.
Importantly, the savings could pay off the investment in as little as 10 years, leaving households enjoying 15 to 20 years of powering their homes with free electricity, based on the panels’ 25-30-year lifespan.
Energy Independence and Ability to Sell Excess Energy – Increased solar efficiency and improved solar technology have enabled households and businesses to generate ample electricity from their installations, even when the weather is gloomy.Â
As such, households and businesses can achieve energy independence by investing in solar energy, especially from May to September, reducing their reliance on somewhat unreliable and expensive fossil fuels.
Energy Resilience
In the wake of the energy crisis after Russia invaded Ukraine, there was an acute realisation that Ireland needed a secure, resilient energy source. Consequently, Ireland and, by extension, the entire European Union have encouraged investment in solar panels as one of the avenues for transitioning from polluting sources of electricity to green and renewable sources while also increasing Ireland’s energy resilience.
Long-Term Environmental Benefits of Investing in Solar PV Panels
Aside from having a low carbon footprint, solar panels contribute to Ireland’s renewable energy targets. At peak sunshine, Ireland has a capacity of over 700 megawatts (MW) of installed solar power in 2023. That is equivalent to two gas-fired electricity plants. The installed capacity can deliver over 20% of Ireland’s electricity needs during peak production in summer.
Importantly, the installed capacity has helped Ireland curb carbon emissions by as much as 202,000 tonnes, which is the same emissions produced by an internal combustion engine-powered car driving for 1.4 billion kilometres.
Investing in solar power has made the goal of transitioning to green and renewable sources of energy possible for Ireland.
Enhanced Business Reputation
In a world where the effects of climate change have been laid bare for all of us to see, more and more people are concerned about their carbon footprint. Consumers, employees, and business partners are keen to see that the businesses they support, work for, or work with are making an effort to reduce their carbon footprint.
Businesses can enhance their reputation as a climate-conscious entity by simply investing in solar panels. This will improve their brand as an eco-conscious organisation.
Improving Solar PV Technology and Declining Costs
While the potential to reduce emissions by generating electricity with solar panels has always been known, their cost has been prohibitive in the past. However, over the past decade, especially the last five years, solar panel technology has improved significantly, but its cost has declined tremendously. Consequently, it makes financial sense to invest in solar panels, and more Irish homeowners and businesses see solar panels as a viable, worthy, and attractive investment.
