The report, published on Monday, found that the aligned targets for renewable energy generation would lead to higher deployment of renewable energy generation in Northern Ireland and higher investment in energy storage in Ireland.
The study also looked at the impact with the proposed North-South electricity interconnector, which will be able to transmit electricity across the Border, and without it. It found that the interconnector will facilitate greater energy transmission between the two jurisdictions when it is up and running, which will reduce the amount that will have to be invested in energy storage. The interconnector would also save on the number of network upgrades that would be required.
“To date, consumers in the integrated single electricity market on the island of Ireland have benefited from the alignment of renewable energy policy in each jurisdiction. Our research shows that continued alignment will continue to benefit consumers, while the construction of the North-South interconnector will facilitate these benefits,” said ESRI senior research officer Niall Farrell, an author of the report.
His co-writer, senior research officer Muireann Lynch, argues that it is for “policymakers and regulators” to ensure that the market and rules facilitate co-operation to realise the full benefit of renewable energy for consumers.