Renewable electricity support scheme will incentivise boom ~2024-04-11~
11th Apr 2024
RenewableNI, the voice of the renewable electricity industry, has welcomed the publication of the new renewable electricity support scheme for Northern Ireland.The renewable electricity support scheme 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 boost the investability of renewable projects in NI and protect consumers from price hikes.
The KPMG report Accelerating Renewables in NI, commissioned by RenewableNI last year, revealed 82 per cent of developers said NI was an unattractive place to invest. Lack of government support was named as the main barrier by 37 per cent of investors.
RenewableNI Director, Steven Agnew said:
“There is a massive pipeline of renewable projects just waiting on the right policy signals to hit go. Got right and delivered timely, this could be the intervention that is needed.
“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.
Steven continued: “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.”
ENDS.
For media inquiries please contact Judith Rance, Communications and Events Manager, RenewableNI, Judith.Rance@RenewableNI.com, 07875-681-794.
Notes to editors
Director of RenewableNI, Steven Agnew, is available for interviews.
RenewableNI will be running a seminar on the new support scheme featuring Zoe Crowe, Head of Renewable Electricity, Department for the Economy. Media are invited to attend. This will be on Tuesday 23 April at 1pm.
You can read the Accelerating Renewables in NI report here.
The Department for the Economy’s Electricity Consumption and Renewable Generation in Northern Ireland: Year Ending December 2023 revealed that 45.8 per cent of electricity last year came from renewable sources – a decrease of over 5 per cent from the 2022 figure. Report is available at https://datavis.nisra.gov.uk/Economy/electricity-consumption-and-renewable-generation-report.html
Find the Design Concsiderations for the Renewable Electricity Support Scheme at https://www.economy-ni.gov.uk/publications/design-considerations-renewable-electricity-support-scheme-northern-ireland-response
