The European Commission has approved, under EU state aid rules, a scheme to support electricity production from renewable sources in Ireland. Ireland intends to introduce a new aid measure, called the Renewable Electricity Support Scheme (“RESS”), to support electricity production from renewable sources, including solar photovoltaic and wind. The RESS, with an estimated total budget of between €7.2 billion and €12.5bn, will run until 2025. During this time, aid for the production of electricity from renewable sources granted under the RESS will be allocated through auctions. All eligible technologies will compete for subsidies in these auctions, which should ensure the cost-effective achievement of renewable electricity targets by encouraging competition. However, Ireland has justified preferential treatment for a small quantity of energy from solar, as well as from offshore wind on the basis of the longer term potential of these technologies for the country. Successful applicants of the RESS will receive support over 15 years in the form of a premium on top of the market price.
EU Reporter 21st July 2020 read more »
Solar Power Portal 20th July 2020 read more »
Times 21st July 2020 read more »