Over half of Irish businesses are now using electricity from renewable energy sources, new research has found.
The survey also established that 90% of industry leaders would be willing to pay a higher price for certified renewable energy.
A majority of the 100 participants 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.
20% said the of respondents said the biggest consideration from them when signing a corporate purchase power agreement was cost, 14% cited the availability of renewable energy while 12% said it was to reduce carbon emissions.
The research was conducted by renewable electricity company Statkraft among manufacturing, pharma, food and beverage, data centre and transport sectors.
It also found 80% of Irish businesses were willing to locate their operations near a renewable energy generating source or energy park.
More than 60% said they plan to directly invest in on-site renewable energy and emissions-reducing technologies over the next three years.
60% plan to install on-site solar panels, 47% are aiming to invest in electrical vehicles for commercial use, 40% intend to install an on-site wind turbine, while 33% are going to invest in a battery energy storage system.
When it comes to investment in industrial heat pump technology, just 28% said it was part of their plans.
“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,” said Kevin O’Donovan, Managing Director of Statkraft Ireland and UK.
“This number will undoubtedly continue to grow over the coming years as more businesses strive to reduce their emissions and meet their sustainability goals.”
The results were published as the Wind Energy Trade Show begins in Dublin.
Wind Energy Ireland said Ireland is now on track to reach 5,000MW of installed onshore capacity before the end of the year.
“Ireland is a huge opportunity for investors combining arguably the best untapped offshore wind resource in the world, with a skilled workforce, decades of experience in onshore wind energy and an increasingly supportive policy framework,” said Noel Cunniffe, CEO of Wind Energy Ireland.
“Our first wind farm was built in 1992 at Bellacorick in Co Mayo and today’s individual turbines are as powerful as that first Irish wind farm.”
“Before the end of the year, we will reach 5,000 MW of installed onshore wind capacity, reinforcing Ireland’s position as a global leader in onshore wind.”
But Mr Cunniffe said that while there is growing momentum behind the development of Irish wind energy, the industry also faces significant challenges.
“Too many good projects are being blocked in the planning system. Too much power is being lost as the electricity grid struggles to accommodate the volumes of energy our wind farms can produce,” he said.
“Fixing these twin problems should be top of the next Government’s agenda. It is now 2024 and long past time we had an electricity grid fit for the 21st century,” he added.