The Irish Government has set ambitious goals for renewable energy, aiming for 80% of Ireland's electricity to come from renewable sources by 2030. As part of this initiative, the Solar Rooftop program was introduced, making it mandatory for new buildings to install solar panels. In this guide, we will explore the numerous benefits of investing in solar panels in Ireland and help you determine if they are the right option. We will provide an overview of the current status of solar energy in Ireland and Europe.
Recognizing the impending climate crisis and the need to reduce dependence on non-renewable energy sources, the European Commission launched the REPowerEU plan. This comprehensive plan includes the EU Solar Strategy, which aims to double solar photovoltaic (PV) capacity by 2025 and install 600GW by 2030.
The Solar Rooftop Initiative enforces a phased-in legal obligation for new public, commercial, and residential buildings to install solar panels. Solar thermal energy is also being implemented to modernize district and communal heating systems. These initiatives highlight the growing importance of solar energy and the shift towards sustainable practices in Europe.
Ireland has witnessed a significant increase in investment in solar farms, with various renewable energy producers and companies partnering up to build solar installations. For example, Amarenco and Bord Gáis Energy collaborated to construct eight solar farms in Cork. At the same time, Harmony Solar Meath Ltd received planning permission for a large-scale solar farm in Meath spanning over 300 acres.
Partnerships like AIB and NTR are securing a substantial portion of their future electricity from solar panel farms. Moreover, Irish developer Power Capital Renewable Energy has secured substantial funding from European leaders to support local and international solar projects. These developments indicate that solar energy is no longer limited to large corporations, as the general population can actively contribute to decarbonizing Ireland's energy sector by installing solar panels.
While 50,000 homes in Ireland currently have solar panels installed, the potential is much greater, with estimates suggesting that up to 1 million roofs in the country could be fitted with solar panels. Solar panels harness the sun's power, enabling homeowners to generate electricity and reduce their carbon footprint. Contrary to common belief, solar panels are effective even in the Irish climate, as they can generate significant energy during the sunnier months.
On average, a medium-sized PV system can generate around 3,000 units (kWh) of electricity annually, covering approximately 70% of the electricity consumption in an average Irish home. Similarly, solar thermal panels can provide 50-60% of a household's hot water requirements, resulting in significant electricity savings. By embracing solar energy, homeowners can reduce their dependence on fossil fuels, contributing to a cleaner and greener environment.
Over the past decade, the production costs of solar PV panels have significantly decreased, making them more affordable for homeowners. In line with this trend, the Irish Government has recently eliminated the Value Added Tax (VAT) on the supply and installation of solar panels, potentially reducing the overall cost by nearly €1,000. However, obtaining multiple quotes from different suppliers is essential to ensure the best possible price.
Solar panels offer long-term benefits, with most panels carrying a 20-year guarantee. They are also relatively easy to install, and their low maintenance requirements make them a hassle-free investment. To further support homeowners, businesses, and organizations interested in solar panel installation, the Sustainable Energy Authority of Ireland (SEAI) offers grants of up to €3,800, helping to offset the initial costs.
The Irish Government has introduced the Micro-generation Support Scheme, allowing homeowners to sell excess electricity generated from their solar panels back to the grid. Under this scheme, homeowners can receive payment for the surplus electricity they produce, resulting in reduced electricity bills and even the potential to earn a passive income. This scheme helps homeowners offset their investment in solar panels and encourages investment in renewable technologies. By participating in this program, homeowners contribute to reducing Ireland's reliance on fossil fuels and combatting high electricity prices.
Investing in solar panels in Ireland offers numerous environmental and financial benefits. With the Irish Government's renewable energy goals and the Solar Rooftop initiative, there is a clear commitment to transitioning to a cleaner and more sustainable energy future. By installing solar panels, homeowners can significantly reduce their carbon footprint, lower their electricity bills, and earn a passive income by selling excess electricity.
With the decreasing production costs and the recent VAT reduction, solar panels have become an affordable and low-risk investment. It is crucial to compare electricity rates and explore other cost-cutting tools to maximize the financial benefits of solar energy. By embracing solar power, individuals can save money and contribute to a greener and more sustainable future for Ireland and the planet as a whole.
