Dáil Éireann Debate, Wednesday - 1 June 2022
69. Deputy Jennifer Whitmore asked the Minister for the Environment, Climate and Communications the estimated cost to the Exchequer of the purchase of carbon credits for Ireland to meet Ireland’s renewable energy target in 2020; and if he will make a statement on the matter. [28353/22]
Amharc ar fhreagraIreland’s overall renewable energy target for 2020 was a minimum of 16%. SEAI forecasts, in November 2020, indicated that Ireland would not achieve its renewable energy target by 2020 and would instead have a shortfall of between 3-4%. On an ex-ante basis, statistical transfers were purchased at a cost of €50m, with 1,000 GWh purchased from Denmark at a cost of €12.5m and 2,500 GWh from Estonia at a cost of €37.5m. The final energy outturn for 2020, which became available in October 2021, confirmed that, prior to the purchase of statistical transfers from Denmark and Estonia, Ireland's energy use from renewable energy sources was 13.53%.
Following the purchase of statistical transfers, this resulted in Ireland achieving an outturn of 16.16%. Therefore, no further purchases were required, as the 2020 target had been met.
