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Ireland Solar Power Outlook

  • December 2015
  • 10 pages
  • GlobalData
Report ID: 3565214

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Ireland Solar Power Outlook

Summary

Ireland has ample renewable energy sources, only a small portion of which have been exploited to date. Ireland’s major renewable energy sources include wind, biopower, and small hydropower. Of these, it is investing primarily in wind power, and both the onshore and offshore wind power sectors have considerable potential. Solar power in the country is still at a nascent stage.

According to Met Éireann, the Irish national meteorological service, the country receives 1,100-1,600 sunshine hours per annum. It does not receive long hours of sunshine and its geographical location keeps it under humid cloudy conditions most of the time. May and June are the sunniest months, with the sunshine duration averaging 5-6.5 hours per day. The extreme southeast of the country receives the most sunshine, with a sunshine duration averaging more than 7 hours a day during early summer.

The Renewable Energy Feed-in Tariff (REFiT) has boosted the adoption of renewable energy sources in Ireland. However, solar power is currently the only key renewable energy source that is not entitled to the REFiT in Ireland. It is thought that the country could witness 500 Megawatts (MW) of solar power installations by 2020, if the right policy framework is put in place. The rapid decrease in solar costs globally since 2008 could also spur large-scale solar deployment in the country.

Ireland has recently witnessed a number of major developments in the solar power sector. Its largest solar Photovoltaic (PV) project - with a peak capacity of 193 kilowatt-peak (kWp) - was completed in November 2015, with the installation carried out by Solar Electric Ireland. In August 2015 another energy giant, Lightsource Renewable Energy - Europe’s leading solar energy company -announced an investment of around €500 ($556m) to boost Ireland’s nascent solar market. In November 2015 Power Capital, a Dublin-based solar specialist company was involved in the Taney Wood solar project situated in Dundrum.

Scope

- Snapshot of the country’s solar power sector across parameters - regulatory scenario and key developments in the solar power sector
- Ireland's Renewable Energy Feed-in Tariffs (ReFiT)
- Data on leading current solar projects

Reasons to buy

- Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the country’s solar sector.
- Identification of Renewable Energy Feed-in-Tariffs
- Develop strategies based on the latest regulatory events
- Position yourself to gain the maximum advantage of the solar industry’s growth potential

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