Meeting Northern Ireland’s target of 80% renewable electricity consumption by 2030 would see onshore wind and solar contribute up to £479 million in Gross Value Added (GVA) per year, according to an analysis out today from KPMG and trade group RenewableNI.
The trade group commissioned to report with a view to maintaining pressure on Northern Ireland’s Department for the Economy to introduce long-promised legislation enacting a Renewable Energy Price Guarantee (REPG).
The program would be the first local support scheme for renewables in the jurisdiction since the closure of the Northern Ireland Renewable Obligation (NIRO) support scheme in 2018.
The DfE published the final scheme design for the REPG in September, but the sector is still waiting for primary legislation to be introduced into Stormont, Northern Ireland’s regional assembly.
KPMG wrote that in the Republic of Ireland successive Renewable Energy Support Scheme (RESS) auctions have seen some €12.5bn of renewable investment into over 200 projects.
“NI is currently one of the only countries across the UK and Europe without a renewable support scheme in place,” the report reads.
“As a result, deployment of large-scale renewable generation has declined significantly, with very few new assets built and energised since 2018.”