Irish households and businesses depend heavily on conventional energy technologies that rely on the burning of fossil fuels for energy. These traditional energy sources consist primarily of coal, natural gas and oil, but the problem is that these fuels will eventually run out.
Some experts predict oil reserves will be depleted within just a few decades and the burning of fossil fuels also produces large amounts of greenhouse gasses that pollute the atmosphere.
In an effort to deal with the problem, the EU has endorsed a comprehensive plan that calls for a radical change in attitude and investment in new, cleaner sources of energy.
The European Strategic Energy Technology Plan (SET-Plan) is designed to accelerate the development of low and zero carbon energy technologies like solar and wind power that can be deployed all over Europe to replace or supplement conventional fuels.
The implementation of SET-Plan has already started, drawing on innovative research and development (R&D) achievements throughout EU member states.
As well as the research community, SET-Plan involves industry, member states and the European Commission coming together in risk-sharing, public-private partnerships to deliver new sources of energy to Europe’s homes and businesses.
Priority sources that can provide this energy - wind, solar power, smart electricity grids and carbon capture and storage - have been identified as focal points of the plan.
A further initiative on energy efficiency in cities aimed at stimulating the use of low carbon energy technologies will demonstrate the feasibility of rapidly progressing towards Europe’s energy and climate objectives.
Between 25 to 30 European cities will be at the forefront of the transition to a low carbon economy by 2020 under this initiative.
SET-Plan’s main targets include generating 20 per cent of electricity in the EU from wind and 15 per cent from solar power by 2020.