THE SUN WILL SHINE FOR SOLAR IN 2024
Updated January 25, 2024
By Morgan Pierce
In the last two years, a massive upsurge in the installation of solar panels in Ireland has smoothed our path to meeting climate change commitments to decarbonization and Net Zero emissions, while dramatically increasing energy security. And there is plenty of room for more growth.
According to a just-published Working Paper by the Climate Change Advisory Council, “the potential for rooftop solar PV adoption is far from saturated and will continue to grow through 2030.”
As we’ve talked about in the past, sales of solar panels have boomed because of a combination of factors. High energy prices caused by international crises like the war in Ukraine, combined with soaring temperatures, flooding and other natural disasters that highlight the climate emergency the world faces, have given consumers a sense of urgency about the need to phase out fossil fuels.
At the same time, technological innovation across our industry has led to a drop in prices for solar panels in Ireland.
The Irish government has done their part by financing a generous grant scheme to support homeowners who want to install solar.
That good news is important for the industry and consumers. But it’s also crucial for Ireland’s ability to meet its climate change commitments. Solar panels and wind turbines are key components of the renewables mix on which the Irish government has pinned hopes for a green energy transformation. Unfortunately, the good news about solar panels comes at the same time that plans for Ireland to become “the Saudi Arabia of wind energy” are encountering strong headwinds.
Many of Ireland’s wind energy projects – both on-shore and off – have been blown off course because of the sharp rise in long-term interest rates. Such rates make it harder for wind farm developers to recoup their investment. The supply chain for wind projects is also under pressure. As wind capacity grows and economies of scale kick in over the coming years, the costs of turbines should fall, easing the pinch. Long-term interest rates, some analysts suggest, may also fall.
However, the continued growth and installation of solar panels in Ireland will remain critical for meeting our renewable energy targets and building a more sustainable future for ourselves.
In its 2023 Energy Outlook report, the International Energy Agency has warned that technologies essential to clean electricity systems – like wind turbines, solar panels, nuclear stations, and EVs – “need to scale up rapidly for electrification to proceed at the pace necessary to meet the energy and climate pledges made by governments around the world.”
It’s clear from press reports that Ireland’s wind energy developers are experiencing the very problems the IEA has identified as “high risk” to its ability to scale up at the rate necessary.
The IEA judges that solar panels are best positioned to take on challenges across the board – from supply chain and labour supply, to government regulation and permits, to financing and policy support.
At SolarSmart, we’re up for working to overcome any challenges homeowners face. We’re promising to continue to look down the road, to anticipate Ireland’s energy needs, and to be “one step ahead” in meeting the needs of our customers.
That’s why in 2024 we’ve already introduced our solar PV maintenance and repair programme, and why in the coming weeks, we’ll be updating consumers on all the steps necessary (and the money available!) to begin their solar energy journey.
In spite of any challenges, there are exciting times ahead for Ireland’s green transformation. Solar panels will become part of the landscape of the new Ireland, providing low-cost electricity to renters, apartment dwellers, those in low-cost or local authority housing, schools, public buildings, farms and businesses. Solar panels will help Ireland build a brighter future for generations to come. And SolarSmart will be there to help you on your way.
Investing in solar panel systems can bring many benefits, including reduced energy bills, increased energy independence, and a reduced carbon footprint. If you are interested in installing a solar panel system, it is worth exploring the different grant options available and seeking professional advice from one of our solar energy advisors.
Feel free to contact us for more information, we’re here to help.