A key part of Lightsource’s plan involves engagement with businesses, schools and local communities across Ireland. It also intends to strengthen local economies in the country with industry expertise and cheaper electricity while also investing in network infrastructure and national renewable energy targets. Solar power has rapidly become very popular across the world, particularly in the UK and Europe.
The Irish government has stipulated a target of 27 percent of national electricity supply to come from renewables by 2030 and the EU will also announce new renewable energy targets for member states very shortly. According to a report by the Sustainable Energy Authority of Ireland, the country’s 2013 renewable energy production contributed 7.8 percent to national energy demand, putting Ireland almost halfway towards the target set of 16 percent under the European Union’s Renewable Energy Directive by 2020.
“Lightsource is committing significant financial investment and resource towards realising this opportunity” said Lightsource CEO Nick Boyle. “Any risks associated with the development of these solar projects, including installation costs, will be borne by Lightsource. This commitment will not only add to sustainable electricity generation in Ireland, it will also strengthen the local economy and supply chain.”
Mr Boyle added that the company’s ground-mounted solar projects will help to diversify land use for farmers and its rooftop installations will enable schools, businesses and community buildings to reduce overhead costs. He further commented that Lightsource customers have experienced over 60 percent reduction in daytime electricity costs thanks to rooftop installations.
Lightsource believes that solar can deploy 1.5 GW of generating capacity by 2020, with the right incentives. This would be enough clean electricity to power over 495,000 local households, meeting over 5 percent of Irish electricity demand.
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