Unlocking the Energy Efficiency Opportunity in Ireland
Element Energy’s new report “Unlocking the Energy Efficiency Opportunity”, carried out for the Sustainable Energy Authority of Ireland, was recently launched in Dublin by the Minister for the Department of Communications, Energy and Natural Resources.
In the report, we set out the findings of a detailed assessment of the size of the energy efficiency opportunity across all energy-consuming sectors in Ireland, the concrete policy mechanisms that could unlock those energy savings most effectively, and the impact of the energy savings on consumers, the Exchequer and the economy as a whole. We find that a range of policies could unlock primary energy savings of over 20% by 2020 with a total investment of just over €3 billion (around 1.4% of GDP), leading to lifetime savings of over €11 billion, and providing a net benefit to the Exchequer of more than €1 billion.
The research has already served as an evidence base for Ireland’s response to the EU Directives on Energy Efficiency (EED) and Energy Performance in Buildings (EPBD), and will continue to influence the country’s energy and low carbon policy for the period to 2020 and beyond.
The report is expected to be of interest to a wide audience, including policymakers, investors, building owners, energy suppliers, ESCOs, technology providers and any other parties interested in understanding:
• Concrete and actionable policy recommendations which could be used to target different consumer groups and distinct barriers to the uptake of energy efficiency, to unlock energy savings in a cost-effective and predictable way;
• The potential economic impact of energy efficiency on households, businesses, the Exchequer and the economy as a whole.
• How a description of consumer investment behaviour can be used to develop realistic market uptake projections for energy efficiency technologies;
• The most up-to-date and representative datasets energy use in the domestic and non-domestic buildings sectors and in the transport sector in Ireland.