As global temperatures rise at an unprecedented rate, time is running out to turn the tide on climate change. The electricity sector has a crucial role to play, with the next five years being key to putting in place the foundations to decarbonise economies and societies around the world by 2050.
In Ireland, the direction has been set with the Climate Action and Low Carbon Development (Amendment) Act of 2021 which commits the country to a net zero emission target for 2050. This includes binding five-year carbon budgets, sectoral emissions targets, the establishment of a Climate Change Advisory Council, and a regularly updated Climate Action Plan (CAP).
The most recent 2024 CAP provides a roadmap to achieve a 51% reduction in overall greenhouse gas emissions from 2021 to 2030, putting Ireland on a trajectory to reach net zero by no later than 2050. As we approach mid-point on the decade, however, concerns are being voiced that the targets may be too ambitious and the timeline too short. ESB believes that there is much to be positive about and that we should recognise this. Read on to learn about some of the developments which underpin our optimism about the future.
While the CAP itself highlights the significant challenges ahead, it is worth reflecting on what is actually possible in this relatively short timeframe – by looking at the huge strides that have already been made in Ireland’s energy transition over the past five years alone.
From renewables to electrification: Ireland accelerates climate action
Ireland has made significant progress across the following areas of climate action since 2019:
- In 2018, the carbon intensity of electricity in Ireland was 375 gCO2 /kWh. The provisional SEAI figure for 2023 is 259 gCO2/kWh – a reduction of 31%. This is despite the fact that annual electricity demand has grown by as much as 10% during this same period.
- At the end of 2018, 4,000MW of zero-carbon generation was connected to the electricity network in Ireland. Five years later, this has risen to 6,200MW – a jump of 55%.
- In 2018, the 4,000MW of installed zero carbon generation capacity was capable of meeting around 80% of peak demand in Ireland. In 2024, the 6,200MW of installed net zero carbon generation is capable of meeting 111% of Ireland’s peak electricity demand of 5,577MW. Ireland now has more installed zero carbon capacity than peak demand.
- From close to a standing start a few years ago, Ireland now has over 1,200MW of solar electricity generation and this is increasing on a weekly basis. This includes over 100,000 microgenerator sites, up from less than 10,000 in 2020.
- As of April 2024, over 730MW of battery storage is connected to the electricity system. This marks a remarkable rollout and ramp up of the technology since the first large-scale battery connection in 2021.
- According to the Society of the Irish Motor Industry (SIMI), 1,233 battery electric vehicles were sold in Ireland in 2018. In 2023 this number had risen more than 17-fold to 22,852.
- ESB analysis puts the number of heat pumps in operation in Irish dwellings at 139,000 – up from around 20,000 at the end of 2018, representing an almost sixfold increase. The Central Statistics Office (CSO) has also confirmed that circa 95% of new-build dwellings in Ireland have electrified heating.
How ESB is enabling Ireland’s net zero future
Renewable electricity generation, a future-proof grid infrastructure, and support for electrification of heat and transport are central to delivering decarbonisation. ESB has been a key enabler in all three areas over the past five years, in line with our strategy to achieve net zero across our operations by 2040:
- Between 2019 and 2023, ESB Networks made capital expenditure investments of €3.92 billion in the electricity network in Ireland – connecting new customers, bringing new renewables and flexible capacity online, and ensuring security of supply. The four years 2020 to 2023 marked some of the highest annual capital expenditure by ESB Networks.
- The carbon intensity of electricity produced by ESB has fallen by almost 19% from 454g CO2e/kWh in 2018 to 370g CO2/kWh in 2023. In 2023, around 20% of our electricity was generated from zero-carbon sources. ESB plans to cease coal generation at the Moneypoint power station in 2025.
- ESB’s generation business is building a strong pipeline of new onshore and offshore projects.
- The Oriel offshore wind farm, while unsuccessful in Ireland’s first offshore wind auction, is exploring alternative routes to market, and ESB has close to 6GW of further potential offshore projects at design stage.
- FuturEnergy Ireland, of which ESB is a 50% shareholder with Coillte, intends to build 1GW of onshore wind across Ireland by 2030.
- ESB is in joint venture arrangements with Harmony Solar and Bord Na Móna to deliver 1.3GW of solar generation – and is constantly looking for additional renewable generation opportunities.
The strong climate action policy framework in Ireland, the UK and Europe has given ESB the confidence and platform to move forward with these ambitious plans.
In 2019 there were no smart meters installed in Ireland. Today, there are 1.75 million – a significant achievement, given the impacts of COVID-19 restrictions during this time. These smart meters are enabling customers to better monitor their energy use and make savings by moving flexible electricity demand to times when prices are lower.
In 2023, ESB commissioned a synchronous compensator at Moneypoint power station. This enables higher volumes of renewable energy on the system and delivers electrical services to the grid which would previously have been supplied by fossil fuel-fired generation. The compensator is the first of its scale in the country and incorporates the world’s largest flywheel – a component important for maintaining grid stability.
There can be no underestimating the challenge that lies ahead. But the strides made in Ireland over the last five years clearly demonstrate that the will and the capability is there to make net zero a reality. The technologies are ready, an enabling policy and regulatory framework is in place, and real, tangible progress is being made.
ESB is committed to delivering a net-zero electricity system by 2040, as a crucial enabler for the decarbonisation of our society and economy more broadly. Our recent Net Zero Pathway Report sets out the milestones needed to 2030 and beyond.
As we look ahead to the next five years, the time is now to redouble efforts across the energy ecosystem and work together to secure Ireland’s clean energy future.
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