Context & Aim of RES Feasibility Assessment
Under the Climate Action Plan 2024 (CAP24), Ireland aims to achieve 80% renewable electricity generation by 2030 and significantly reduce fossil fuel use in industry. Currently, industry-related emissions constitute around 10% of Ireland’s total greenhouse gas emissions, underscoring the potential for decarbonisation through sustainable energy technologies.
Investing in locally harvested green energy and energy efficiency solutions reduces energy costs, enhances energy security, and supports business growth.
Recognising this, IMR works with organisations to assess the feasibility of renewable energy systems (RES), providing tailored solutions to help companies achieve their sustainability targets and mitigate investment risks.
This project identifies the most economically feasible and sustainable energy solutions, supporting informed decision-making to achieve:
- Energy savings
- Reduction of energy costs
- Increased energy security and resilience
- Reduction of carbon emissions
The following technologies can be considered in the assessment:
- Solar PV
- Air Source Heat Pumps
- Battery Energy Storage Systems
- Wind Turbines
- Co-generation of Heat and Power
- Biomass and Biofuels
- Hydrogen
- Systems for Recovery of Process Heat
The RES feasibility assessment is a service, supported by a toolkit, that evaluates the economic feasibility of various green energy technologies, both individually and in combination. Multiple scenarios can be generated and assessed for each technology and group of technologies, aiming to identify the best scenarios based on the company’s defined goals.
The RES feasibility assessment follows these steps:
- Tailored discussions to understand energy needs, sustainability targets, and investment goals.
- Detailed site assessment using a questionnaire to determine the suitability for various green energy technologies.
- Creation of bespoke scenarios for each technology, considering the site’s characteristics and operational requirements.
- Cashflow analysis over 25 years, providing key financial indicators like IRR, NPV, and ROI to ensure economic viability.
- The toolkit evaluates a range of technologies such as Solar PV, Wind Turbines, and Biomass, offering the flexibility to combine them for optimal results.
Previous and Current Clients
- Boston Scientific Galway
- National Science Park
- Grant Engineering
- Decotek
- Thormac
- Keoghs
Empowering Industry with the Potential of Renewable Energy in Manufacturing
Other Info:
Green Book: Empowering Ireland’s Renewable Future
This is comprehensive guide that aims to demystify the complexities of renewable energy systems, providing valuable insights to assist companies throughout Ireland in navigating this transition effectively. It consolidates vital information that would otherwise require extensive research and investigation. Readers gain access to a wealth of contextualised information, streamlining the decision-making process and minimising time and revenue lost to uncertainty.
For more details, you can access the guide here: https://pages.imr.ie/green-book-empowering-irelands-renewable-future
THEMATIC PILLAR
Sustainable Manufacturing
