More than half of Irish companies using renewables to power their business
80% would be willing to locate business near renewable energy project
More than half (53 per cent) of Irish businesses get their electricity from renewable energy sources, according to a new industry survey from Statkraft, Europe’s leading producer of renewable electricity.
The industry survey of 100 decisionmakers working across the manufacturing, pharma, food and beverage, data centre and transport sectors in Ireland also found that 80 per cent of respondents said they would be willing to locate their business adjacent to a renewable energy asset or a dedicated renewable energy park.
Furthermore, 90 per cent of industry leaders said they would be willing to pay a higher price for certified renewable energy. More than 65 per cent of industry respondents in Ireland said they would be prepared to pay between 0.25c/kilowatt hour (kWh) and 1c/kWh for certified 100 per cent renewable electricity.
The majority of industry respondents to the Statkraft survey said they had signed deals to buy renewable energy in order to meet customer expectations, reduce the environmental impact of their business and ensure cost competitiveness. When asked what the biggest consideration was when signing a power purchase agreement, 20 per cent of respondents cited cost, 14 per cent said the availability of renewable energy while 12 per cent said it was to reduce carbon emissions.
Commenting on the survey results, Kevin O’Donovan, Managing Director of Statkraft Ireland and UK, said: “Industry leaders understand that using more renewables is better for their bottom line – that’s why over half of the businesses polled in this survey are already using renewable energy to power their operations. This number will undoubtedly continue to grow over the coming years as more businesses strive to reduce their emissions and meet their sustainability goals.
“It’s also interesting to see that eight out of 10 companies would be willing to relocate to a renewable energy park. The development of hybrid or co-located projects, which could include wind, solar, and battery storage, could be a really positive solution to supplying large companies with renewable energy.”
Finally, the survey found that many Irish businesses plan to directly invest in on-site renewable energy and emissions-reducing technologies.
More than 60 per cent of respondents said they plan to install on-site solar panels over the next three years, 47 per cent plan to invest in electrical vehicles for commercial use, 40 per cent intend to install an on-site wind turbine while 33 per cent are going to invest in a battery energy storage system. Just 28 per cent of industry respondents in Ireland said they plan to invest in industrial heat pump technology as a renewable energy solution for their business.