Eamon Ryan (Dublin Bay South, Green Party)
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The subhead is to cover failing to meet our 2020 renewable energy targets, which were set out in legislation ten years ago. Throughout Europe, 20% of all energy is to come from renewable energy. In our case, we had a legally binding target of 16%. The latest projections from the Sustainable Energy Authority of Ireland shows that between 12.5% and 13% will come from renewables. We have a shortfall of 3% to 4%, primarily in the heat sector. The directive requires that where a state is in shortfall the balance has to be met by those countries that have exceeded their targets. Other countries have done this and the Netherlands is an example. It had to purchase credits to be in compliance. The Department is in negotiation with a number of European countries. Before the end of the year we expect to be able to cover the majority of the compliance difference through entering into an agreement with two other countries. The agreement has not yet been completed and the exact details are not fully arranged. We will spend €50 million on meeting our compliance with the directive. It shows these European directives on renewables and climate emissions have real teeth and require us to act. It is with real regret, from all concerned I am sure, that we did not spend €50 million in recent years to meet the target and instead we will have to purchase these credits on the European market, which will bring us back into compliance.