In this study, Baringa has sought to bring its landmark 2018 70 by 30 study into 2021, by accounting for significant market and policy developments in Ireland, and to determine the necessary steps to achieve a zero-carbon power sector in Ireland.
Key findings - what have we learned?
- Reducing power sector CO2 emissions in Ireland from around 9 million tonnes today to a target of less than 2 million tonnes of CO2 per year is very achievable by 2030, using the approach currently underway to achieve the ‘70 by 30’ target, and implementing more of existing and proven technologies.
- The current Programme for Government renewable capacity targets of 8.2 GW of onshore wind and 5 GW of offshore wind by 2030 should be maintained, with an additional target of 5 GW of solar PV.
- This target can be achieved at a lower cost to the end consumer in Ireland, compared to delivery of the less ambitious ‘70 by 30’ target.
- A zero-carbon power system is possible by 2030 and represents an achievable target in the 2030s.
- Realising this target requires incremental investment in a suite of technologies new to Ireland, and the implementation of a carbon price floor in the I-SEM.
Watch Mark Turner present the findings of this study at a Wind Energy Ireland webinar
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