This is a new area of partnership with which the UK and Ireland are looking to establish a firm agreement on how the two nations can actively trade energy from renewable power stores from nation to nation. Although currently the finer details between both parties are still to be agreed on it’s hoped that once finalized this will represent a first of it’s kind which would offer great positives to both economies.
How Will The Renewable Energy Agreement Work
Essentially both countries will be able to supply energy from renewable power be it wind, hydro electric, solar panels energy and more to one and other and this will mean countries are better able to manage their energy levels by being able to tap into the main storage facilities when needed. Although a predefined measuring system of how the energy hasn’t been made public knowledge yet this could be one of the key stumbling blocks in getting the agreement ratified as a measure of fairness and transparency will be needed to ensure the projects success. Although initially the project will be based on exported wind energy from Ireland the scheme will then be developed to encourage large scale trading of renewable energy supplies.
How Will The Countries Be Connected
This is one of the more technical aspects of the project and the scale of investment being discussed to secure the correct infrastructure is substantial. The project to link the nations is to be carried out by U.S. firm Teaneck which is to facilitate the infrastructure at a cost of approx £7 billion initially with further spending conceivable if the project delivers results as intended.
The Greenwire Energy Bridge Will Facilitate The Power Delivery
This is the technology that will essentially facilitate the renewable energy delivery and ensure energy delivered into the grid from solar power, wind and other sources can be exported efficiently to the grids of the partners of the agreement.
When Is The Agreement Set To Begin
With work ongoing to finalize the agreement MR Davey and his Irish counterpart Mr Rabbitte while expressing that a deal is close have also stated that any sharing of energy from Irish wind and solar power installation will not commence before 2020. Both involved are very conscious of potential delays meaning subsequent losses of millions in revenue and have thus have stated a desire to get the regulations in place as soon as possible to ensure timescales are met. Ultimately all involved are in agreement that the new infrastructure would represent a new type of energy deal that would essentially provide security to the renewable energy industry.
How Collaboration In Renewable Energy Is Likely To Sore
Since the altering of the renewable energy targets by the European Commission we highlight the apparent upturn that could take place regarding future collaboration between nations given that targets were to be shared. Although the joint Irish and UK renewable exporting project was in discussions it has now become more significant as it will form a blue print of how collaborative solar PV, wind, thermal, hydro electric, bio mass and more could openly adopt processes to share their renewable resources.
All involved have given themselves until the summer to finalize the agreement and have acknowledge the obstacles that have needed to be overcome in order to reach a successful outcome. Such an agreement could provide a welcome boost to wind and solar panels sector amongst others. However considering the amount of money being discussed to finance the project calls are likely to be made regarding why the money could not be better spent to grow the respective solar PV and wind sectors within the UK further.
Some previous related articles of interest:
How EU renewable targets are falling behind in the UK
Renewable energy affordability a key concern for the EU
Generation levels raised again with latest solar advances