Delivering the 4GW-plus onshore wind energy targets in Ireland’s Climate Action Plan will generate €2700m of investment over the next 10 years, new research has found.
The ‘Economic Impact of Onshore Wind in Ireland’ report, produced by KPMG for Wind Energy Ireland, also found hitting the goals would create thousands of new jobs and could be worth €550m per annum to the Irish economy.
Wind Energy Ireland acting chief executive Noel Cunniffe said: “Onshore wind energy is employing more than 5,000 people today and investing hundreds of millions in our economy, primarily in rural Ireland.
“Today’s report from KPMG shows that if we deliver the target set out in the Climate Action Plan it will mean more jobs, more investment and stronger communities across the country.”
The report’s key findings include Ireland’s wind farms currently support more than 5,100 jobs directly, and through the supply chain, and this could rise to more than 7,000 by 2030.
In addition, onshore wind is worth €410m annually to today’s economy with most of this concentrated in rural Ireland.
Overall, wind farms pay more than €45m in commercial rates to county councils and this is expected to double by the end of the decade.
In seven counties wind farms contribute more than 8% of the entire commercial rates budget and this figure rises to 22% in Leitrim and 15.5% in Tipperary.
The report concluded that communities potentially stand to benefit from up to €25m in annual community benefit payments as new wind farms are built.
KPMG’s head of sustainable futures Russell Smyth said: “Our report highlights the crucial role the onshore wind sector plays in the Irish economy.
“As well as materially assisting Ireland meet its 2030 decarbonisation ambitions as outlined in the Climate Action Plan, the sector creates jobs in construction and in operations, contributes to local authorities and to the Exchequer, and adds to Ireland’s overall economic output.”
The report was based on extensive research and analysis carried out by KPMG’s team and also on data collected from responses to detailed surveys of the 2020 capital and operational expenditure of many of Wind Energy Ireland’s more than 160 members.
This ensured that the analysis was based on figures for actual employment and spending.
Noel Cunniffe added: “Irish wind farms are reducing our CO2 emissions by 4 million tonnes a year and rising.
“Today’s report shows that as well as being essential to the fight against climate change wind farms are increasingly central to Ireland’s economy.
“It shows we can drive down our carbon emissions while creating jobs, attracting investment and building stronger, more sustainable, communities.
“This is what the just transition looks like.
“We know we have the pipeline to deliver 4000MW of onshore wind by 2030 and this report shows that every new wind farm we build will pay mortgages, fund childcare and support local businesses.
“Furthermore, the rates paid by these wind farms keeps libraries open, repairs roads and support local businesses but the investment made by wind farms in rural Ireland goes well beyond that.
“The KPMG report shows that 95% of operational expenditure by Irish wind farms is in the south, west or north of the country where it is supporting local jobs and local businesses.
“And under the new Renewable Electricity Support Scheme, launched last year by Minister Eamon Ryan, the additional 4000MW of onshore wind to be delivered over this decade could be worth €25m annually in community benefit payments with 40% of that reserved for sustainable development projects.”