The most advanced and comprehensive of its kind in the world, the study examines a range of generation portfolios for Ireland, the ability of our power system to handle various amounts of electricity from renewable sources, the investment levels required, and the climate change and security of supply benefits that would accrue.
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Minister Ryan said: "This study shows that we can do more than reach our renewable energy targets - we can surpass them.
"Above and beyond our current target of 33% by 2020, the Grid Study tells us that it is feasible to generate 42% of our electricity from renewable sources by that date. This will be one of the highest levels of renewable electricity in the world. It will reduce our greenhouse gas emissions by 25% in comparison to a 'business as usual' scenario.
He continued: "Getting to this point will not be easy. This is a highly complex task. Our electricity systems will require major investment to cater for wind, wave and other renewables. For the Republic alone, additional investment of over €650m will be necessary to reinforce over 600km of the electricity transmission network. Corresponding investment required from private industry will be in the order of €9bn.
"This will bring significant savings on our imported fossil fuel bill and present Ireland with new employment and enterprise opportunities."
The Minister concluded by saying the Irish Government remains committed to making Ireland a world leader in renewable energy.
(JM)
