A leading energy expert has highlighted that Ireland may not reach its EU renewable energy directives.
As the country focuses on water charges the failure to meet EU renewable energy directives could force the state to shell out fines in the €100’s of millions; as opposed to the relatively smaller fines in the water sector.
Ireland could be subject to an EU fine of €35,000 per day (almost €13million pa) if water charges are scrapped.
Director of Greenroom Investments & Solar 21 Michael Bradley, explained, “There’s a bigger and far more expensive issue on the horizon for the new government, which is the lack of attention given to Ireland’s renewable energy targets under another EU Directive. Based on the current work rate, Ireland will fall short of its 2020 target. Irish taxpayers could have to pay between €195m and €360m. This is, on average, 21 times the fine we face over water development”.
According to a recent SEAI report on Ireland’s progress towards the targets, Ireland needs to upgrade the energy efficiency of an additional 375,000 homes, and ensure that 20% of all new cars sold in Ireland are electric within four years.
Source: www.businessworld.ie
