New SEAI Report Examines Potential for Smart Economy
6th May 2010
Report shares insights from Irish clean tech companies
A new report launched today, (Thursday 6th May), by the Sustainable Energy Authority of Ireland (SEAI) highlights the role of companies working in clean tech industries in contributing to the smart economy. The report, “Inside the Smart Economy” featured views from 12 enterprises and financiers operating in the clean tech area to ascertain their perspective on the development of clean tech enterprise within the smart economy in Ireland.
Speaking at the launch of the report, Brian Motherway, Chief Operations Officer at SEAI, commented “SEAI has engaged with various market players in an attempt to ascertain their perspective on Ireland’s ability to grow a clean tech sector and grasp its competitive advantage. From talking to stakeholders involved in the clean tech sector, it is apparent that Ireland has huge potential and entrepreneurial pedigree to be successful in this growth area. Our ability to position ourselves as a global leader in the global clean tech sector could have an enormous impact on the country’s future economic development.”
SEAI met with 12 companies representing a cross section of clean tech SMEs, from building services and energy efficient lighting companies to energy generation companies and financiers.
Some of the key findings included:
§ Certainty and transparency around policy is critical. According to Rita Shah, co-founder of Shabra Plastics and Packaging, “lack of clarity can be a significant barrier to planning and investing in research”, and Nicholas Tierney, CEO of Green Biofuels, indicated that Government must provide a clear roadmap of how EU regulations will be implemented in the coming years.
§ Companies interviewed emphasised that they were not simply in the market for hand-outs but would welcome non-financial approaches to stimulating the market. Brendan Marren, CES Energy, identified the Irish Government’s feed-in tariff, whereby electricity from a biomass CHP (combined heat and power) plant will have a set price for 15 years, as an important market driver. Dr. Liam Kelly of Nualight also highlighted how the Government’s target of sourcing 40% of the country’s electricity needs from renewable energy has fuelled investment in the wind sector.
§ The Government have a real opportunity to demonstrate leadership through its procurement and regulation policy according to many contributors. Liam Relihan, Resourcekraft, believes the State needs to review its tender selection system. “We would much prefer to be receiving money for doing honest work from the Irish Government – kitting out their buildings, making them more energy efficient, and so on – than receiving grants.”
§ Ireland has the potential to be a world leader in the renewable energy revolution. Joe O’Carroll, Imperative Energy noted that Ireland has core competitive advantages in growing biomass while Andrew Cullen of Bank of Ireland emphasised that we have “arguably the best wind resource in Europe”.
§ The sense of optimism from companies with regard to Ireland’s potential as a smart economy. Brendan Marren, CES noted “With the success we have had, with our Irish entrepreneurial mindset and our work ethic, and the experience we have had over the years of the boom of managing business and growth, Ireland could be a world leader in this.”
Details of the report and video interviews with the participants are available on http://www.seai.ie/Your_Business/Inside_the_Smart_Economy/
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