Northern Ireland has introduced a support scheme for renewable energy projects.
The UK country’s national trade body RenewableNI has welcomed the publication of the new renewable electricity support scheme, saying that it is a “crucial policy measure by the Department for the Economy that will issue a new wave of renewable generation projects after a decade of stagnation”.
The scheme will help to make renewable projects in Northern Ireland more attractive to invest in and protect consumers from price hikes.
The KPMG report Accelerating Renewables in NI, commissioned by RenewableNI last year, revealed 82% of developers said Northern Ireland was an unattractive place to invest.
Lack of government support was named as the main barrier by 37% of investors.
RenewableNI Director, Steven Agnew, said: “Northern Ireland has gone from leading to lagging behind.
“There has been only 86MW of new connection in the last decade, compared to 400MW in 2016 when there last was a support scheme.
“We are in the unique position to have examples from neighbouring support schemes, such as the GB Contracts for Difference and ROI Renewable Energy Support Scheme.
“While in recent years this meant investment has been diverted away from NI, it now is a positive opportunity to learn from what has and hasn’t worked.
“RenewableNI is looking forward to working constructively with the DfE to get this right.
“Working together, we can protect consumers from high costs of energy and ensure a security of supply.”
The support scheme will address key factors that will de-risk investment and result in lower prices.
RenewableNI says the new scheme is only the first step of renewable policy needed to meet the legal obligation of 80% renewable electricity by 2030.
“Everyone knows the decisions made over the next year will determine the success or failure of the 2030 target.
“RenewableNI has been calling for the creation of a new Accelerating Renewables Taskforce.
“The climate emergency isn’t being treated that way.
“Planning timelines, grid development and policy uncertainly need urgent action.”