How energy disruptions bring more opportunities than challenges to the irish market

EY Law Ireland discusses what they have learnt from the experts and market participants who are leading the energy transition. From our research, we share these market participants’ general outlook for the market, their reasons for optimism and concern as the market grows.

In brief

• Overwhelming agreement amongst market leaders that the energy transition market in Ireland is poised for significant growth over the next few years.
• Potential investors expressed a high level of enthusiasm, specifically focusing on the strong advantages for renewable energy production as a result of Ireland’s geographical potential, liquid debt markets, political support and stable regulatory environment.
  
• Market participants noted some concerns; however, the vast majority stated these potential barriers did not affect their intention to enter the Irish market.
  

The transition towards renewable energy has accelerated significantly in recent years. EY Law Ireland conducted a survey across the energy transition sector evaluating the current state and future evolution of the market in Ireland. We spoke with experts and market leaders about their experiences with the Irish energy market and gauged their views as to why current and potential participants should be optimistic about the market and what barriers they should keep an eye out for.

The findings have been encouraging, with an overwhelming agreement that the energy transition market in Ireland is poised for significant growth over the next few years and possesses an unrivalled potential for renewable energy generation.

This optimism comes from Ireland’s high wind yields and offshore wind capacity. Likewise, development of interconnector infrastructure, the existence of a strong and stable regulatory environment as well as accessible sources of finance are key to the Irish energy market’s attractiveness.

Investors, however, remain cautiously optimistic. Noting inefficient planning procedures, implementation delays, lack of resources in key delivery agencies and market size as the most prominent concerns when considering whether to enter the Irish market.

Read EY Law Ireland’s full publication, Energy Transition: The Irish Market for more insights on;

• Market opportunity
• Market potential
• Progress towards overall renewable energy share
• Current investor sentiment: reasons for optimism and challenges
• Government support for renewable energy
• How EY Law and EY can help businesses realise their potential