How can communities benefit from €1bn fund transfer from renewable energy companies?

Investment in renewable energy to meet Ireland’s 2030 renewable energy targets will mean a transfer of €1 billion from private companies to communities. How do we maximise the benefits of this unprecedented transfer of wealth?

The energy transition is firmly under way in Ireland, and we are seeing accelerated progress in several key areas, with solar energy rapidly expanding, and significant growth in home energy upgrades and electric vehicle sales.

However, Ireland is not on track to meet statutory 2030 targets and accelerating the pace and scale of renewable energy development is urgently required.

Persistent societal challenges remain, however, relating to the siting and development of large renewable energy infrastructure and the necessary grid upgrades to carry this electricity from where it is produced to where it can be consumed.

While the benefits nationally for our climate ambitions and energy security needs are increasingly understood, the benefits at community level are not always as evident.

Ensuring that community benefits from renewable energy projects are both significant and meaningful is essential if Ireland is to address the delays in developing infrastructure now being investigated by the Government’s Accelerating Infrastructure Taskforce.

Community benefit funds are emerging nationally and internationally in this context as a fruitful strategy to pave the way for enhanced public engagement with energy and sustainability.