Ireland Wind Power Market Size and Trends by Installed Capacity, Generation and Technology, Regulations, Power Plants, Key Players and Forecast, 2021-2030
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The Ireland wind power market’s installed capacity was 4,529.84 MW in 2020. It is expected to grow at a CAGR of more than 12% during 2021-2030. Rising levels of pollution, the fear of global warming, the scarcity of fossil fuels, and increasing levels of Greenhouse Gas (GHG) emissions have led many countries to opt for clean renewable energy sources. Their use is not only beneficial to consumers and the environment but also provides employment opportunities, thereby driving economic growth. The global economic crisis resulted in a drop in carbon emissions in 2009, due to declining global energy demand and a strong focus on green energy. This trend did not continue for long as emissions increased again between 2010 and 2019. Global carbon dioxide emissions increased during this time as major carbon-emitting countries such as China and the US have not accepted carbon emissions reduction mandates. However, as they have taken other voluntary measures emissions are expected to be controlled in the future.
Overview of the wind power market in Ireland
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What are the market dynamics in Ireland’s wind power market?
Ireland’s renewable power market was led by onshore wind power with cumulative installed capacity of 4,274.66 MW as of 2020. The onshore wind power is expected to grow at a CAGR of more than 4% by 2030. The second leading source in the renewable capacity mix of the country in the year 2020 was biopower with a cumulative installed capacity, at an estimated negative CAGR of over 1%. The solar PV power segment is expected to grow by 2030. The last source in the renewable capacity mix of Ireland was offshore wind power with a cumulative installed capacity of 25.2 MW in 2020 and is expected to reach a CAGR of over 69% by 2030.
The Renewable Energy Feed-In Tariff (REFIT) mechanism was introduced for wind and hydropower in 2006, to assist Ireland to meet its obligation to increase the consumption of renewable electricity to over 13% of the total electricity consumption by 2010 as per EU Directive 2001/77/EC. The REFIT program was developed to REFIT-I, REFIT II and REFIT-III and included all renewable power technologies. However, all the three renewable energy FiT schemes were closed by 31 December 2015 for new projects. During the period REFIT was instrumental in the rapid growth of the renewable power market in the country. To further encourage the growth of renewables, the Irish government started to draft a framework to introduce an auction system to support renewables.
What is the renewable power market of Ireland cumulative installed capacity by source (mw), 2010-2030?
Ireland’s renewable power generation mix was led by the onshore wind power market with power generation of 11,416.11 GWh as of 2020. It was followed by biopower in the year 2020 with a total power generation of around 894.65 GWh. In the renewable power generation mix in 2030 offshore wind power and solar PV are expected to grow at CAGRs of over 69% respectively to attain shares of more than 43% respectively in the total renewable power generation by 2030. The below chart and table illustrate annual generation in 2020 and growth rate of annual generation during 2020-2030 for various renewable technologies and the estimated share of each technology in total annual renewable generation in 2030.
Renewable power market of Ireland cumulative installed capacity, by sources
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What are the different deal analysis in the Ireland’s wind power market?
The wind power market recorded a total number of 140 deals (including partnership deals) in 2020, out of which the highest deals belonged to asset transactions followed by debt offering deals, partnerships, acquisition deals, equity offerings, and venture financing deals.
Ireland wind power market, by deal type
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Market report scope
Market size (Year – 2020) | 4,529.84 MW |
Growth rate (CAGR) | >12% |
Base year for estimation | 2020 |
Forecast period | 2021-2030 |
Key sources | Onshore wind, Solar PV Small hydro, Biopower, Offshore wind |
Key deals | Asset Transactions, Debt Offerings, Acquisition, and Partnership |
The report analyses Ireland’s wind power market. The scope of the research includes –
- A brief introduction on global carbon emissions and global primary energy consumption.
- An overview of the country’s renewable power market, highlighting installed capacity trends (2010-2030), generation trends (2010-2030), and installed capacity split by various renewable power sources.
- Detailed overview of the country’s wind power market with installed capacity and generation trends and major active and upcoming wind power projects.
- Deal analysis of the country’s wind power market.
- Key policies and regulatory framework supporting the development of wind power sources.
- Snapshots of some of the major market participants in the country.
Reasons to Buy
- Enhance your decision-making capability in a more rapid and time-sensitive manner.
- Identify key growth and investment opportunities in the country’s wind power market.
- Facilitate decision-making based on strong historic and forecast data for the wind power market.
- Position yourself to gain the maximum advantage of the industry’s growth potential.
- Develop strategies based on the latest regulatory events.
- Identify key partners and business development avenues.
- Understand and respond to your competitors’ business structure, strategy, and prospects
Eqtec Plc
Brookfield Renewable Ireland Ltd
B9 Energy O&M Ltd
AirEn Services Ltd
Table of Contents
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Frequently asked questions
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What is Ireland’s wind power market output in 2020?
Ireland’s wind power market’s installed capacity was 4,529.84 MW in 2020.
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What is Ireland’s wind power market growth rate?
Ireland’s wind power market is expected to grow at a CAGR of more than 12% during 2021-2030.
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What are the key sources in Ireland’s renewable power market?
Onshore wind, solar PV small hydro, biopower, offshore wind are the key sources in Ireland’s renewable power market.
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What is the top deal analysis in Ireland’s wind power market?
The wind power market in Ireland recorded a total number of 140 deals (including partnership deals) in 2020, out of which the highest deals belonged to asset transactions followed by debt offering deals, partnerships, acquisition deals, equity offerings, and venture financing deals.
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