Wind-generated electricity can make a major contribution to Ireland’s recovery

The achievement of environmental goals has long been redundant as the sole reason for green investment. However, as an export industry, wind-generated electricity has the potential to be one of the most valuable assets Ireland possesses in its drive towards recovery.

To give an indication of the conceivable value to the Irish economy, by simply meeting our 2020 targets laid out in the EU's National Renewable Energy Action Plan (NREAP), a study by Deloitte found that €9bn of capital investment is required with the estimated creation 10,000 jobs.

There are severe penalties for not reaching our commitments and such fines are designed to outweigh the spending required to reach these goals.

Ireland is committed to ensuring that, by 2020, 16% of all energy consumed in the state comes from renewables. Within that pledge, the Government has set a target of 40% of electricity generation to come from renewable sources.

The most recent figures from the Sustainable Energy Authority of Ireland (SEAI) show that in 2010 the renewable contribution to electricity was 14.6% – wind alone accounted for 11.3% of the total figure.

Last year saw a decline in the installation of new wind generation capacity, down to 115 megawatts (MW) in 2010 from a record high of 279.2 MW in 2009. Each tranche of proposed connections to come on board is known within the industry a 'gate' and the next round is expected to be the largest so far. It is perhaps needed however, as the SEAI estimates that to reach our stated targets, the 2009 installation figures need to be beaten every year until 2020.