Oireachtas Joint and Select Committees

Tuesday, 25 June 2024

Joint Oireachtas Committee on Climate Action

Long-Duration Energy Storage: Discussion

11:00 am

Mr. Brian Kennedy:

It is certainly some help to understand there is a broad need for it, but it does not necessarily provide the low cost of capital and certainty that investors would need, which is more security that policymakers can stand behind their own objectives. If they say they need to decarbonise and electrify their transport system, they will stand behind that to provide some level of certainty to the investment community. I understand what the Deputy is saying, and I agree. While it contextualises and provides a picture and it helps, it probably does not do enough to attract inward investment.