A new report has revealed the net cost of Wind Energy for Irish consumers has amounted to less than €1 per person per year since 2000 delivering €2.3 billion in savings on the wholesale electricity market. The study, which was commissioned by Irish Wind Energy Association (IWEA), analysed Ireland’s electricity market from 2000 to 2020 and then simulated how it would have behaved without any wind energy on the system.
It marks the first time researchers have used historical data to carry out a cost-benefit analysis of Wind Energy. Researchers analysed a range of costs, including grid integration and expansion, against benefits such as fines avoided, reduced capacity payments to fossil fuel generators and the impact of wind on wholesale power prices.
The report also found Wind Energy has reduced CO2 emissions by 33 million tonnes and cut the amount spent on fossil fuels by €2.7 billion. The economic case for wind energy was also strengthened as savings outweighed the amount of funding provided through the public service obligation (PSO) levy of €1.9 billion over the period.
Noting the falling price of both onshore and offshore wind energy around the world, this is an upward trend according to the authors report.
Naturgy supplies 100% renewable energy, and works with various stakeholders to ensure a clean energy future for Ireland working with our customers in Ireland, Northern Ireland and the UK with a renewable energy strategy that suits their business needs.
Naturgy has a 100% renewable energy rating for all electricity supplied to its Customers as published annually in the fuel mix disclosure report by the Commission for Regulation of Utilities, the Energy Industry Regulator. Naturgy was the first energy supply company in Ireland to achieve this 100% rating and it remains the only supplier to achieve a 100% rating on an all-island basis.
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