Irish sustainable energy segment to reach EUR 2.5bn in annual value by 2020

Jun 12, 2014 - The market for sustainable energy services and technologies in Ireland is expected be worth EUR 2.5 billion (USD 3.4bn) per year by 2020, the Sustainable Energy Authority of Ireland (SEAI) said Wednesday.

The organisation called on local businesses to take advantage of the opportunities on the renewables market in its report "Ireland’s Sustainable Energy Supply Chain Opportunity", which was compiled in consultation with Enterprise Ireland, industrial development agency IDA Ireland and policy advisory board for enterprise and science Forfas.

At present, Ireland spends about EUR 1.5 billion each year on sustainable energy, a segment that provided jobs to 18,000 people. SEAI calculates that the increased expenditure in the six years to 2020 will enable the industry to support up to 30,000 jobs, mainly in the production and construction segments.

SEAI’s report examines the Irish supply chain’s ability to capitalise on investment in the energy efficiency and renewable energy markets, needed for the country to meet its 2020 renewables goal of 16%.

"As the sustainable energy transition continues to gather momentum, Ireland must position itself to capture the economic benefits available,” the Irish minister for communications, energy and natural resources Pat Rabbitte commented.

(EUR 1.0 = USD 1.354)

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