John Carty (Fianna Fail)

With the increased cost of natural resources such as gas from Russia and the ever-fluctuating price of oil, there has never been a more pressing time to reduce Ireland's reliance on foreign fossil fuels. We must develop our own natural resources such as wind and wave energy and produce the infrastructure we need.

I welcome the Government's target that Ireland will get 40% of its energy from renewable sources by 2020. It is an EU commitment to make a 20% cut in greenhouse gas emissions by 2020 and we are bound to that commitment. We have an opportunity to play a leading role in developing a green economy.

More than $140 billion was invested worldwide in clean renewable energy sources in 2007. This demand for environmentally friendly and cheap energy sources has created a multi-billion dollar industry worldwide and this is set to increase every year. Ireland, with more than 3,000 km of coastline, is strategically placed to become a world leader in the emerging industries of wind and wave power. At present, we have 35 onshore wind farms and one offshore wind energy farm. This figure will need to increase if Ireland is to become a leader in green technology. I appeal to the planning authorities, particularly in western counties, to put in place a policy in order that planning permission for wind farms can be achieved in a reasonably fast manner. At present, more obstacles than help seem to be put in front of anybody seeking such permission.

The Department of Community, Rural and Gaeltacht Affairs, with Sustainable Energy Ireland, is to fund a pilot study for a 12-month period on the Aran Islands to ascertain if it is possible that electricity, heat and transport needs can be supplied by renewable energy, which is welcome news for the west coast. This will hopefully provide a template to reduce the country's dependence on fossil fuels but, more importantly, it provides valuable technological know-how which Ireland can export throughout the world.

In June of this year, the Minister for Finance, Deputy Brian Lenihan, announced that he, with the IDA, welcomed IBM's — a US multinational — global centre of excellence for water management at its facility in Mulhuddart, County Dublin. To have such a household name known for its computer business moving into the area of green technology shows how important and relevant the area is becoming.

These are just a few examples of how Ireland has begun to move towards green technology and creating a sustainable green section of our economy. An example of an Irish company making serious inroads into international green technology markets is Airtricity. It was sold to Scottish and Southern Energy in a deal worth approximately €1.8 billion to shareholders. That is a good example of how green technologies can be profitable on a large scale for Irish companies.

An area where every citizen has the potential to gain monetarily from green technology relates to the facility to sell electricity back to the grid. This is where those with the capacity to create their own electricity with wind turbines, solar panels or wave power could sell surplus electricity back to the ESB, recouping their investment in green technology and making a profit.

The ESB is only now partaking in trials for smart-metering. It does not expect this to be available to the general public for several years. I call on the ESB to speed up the process and to make it available sooner. If such a scheme were fast-tracked by the ESB it would no doubt encourage people to reduce their reliance on fossil fuels.

In the coming weeks several Ministers who have responsibility in the relevant areas will collectively announce the establishment of a high-level action group to advise on the development of Ireland's green economy. The group will report to the Government in four months, setting out an action plan for developing green enterprise in Ireland with a view to contributing to economic growth and providing new and quality employment opportunities in this growing sector. I agree with Senator Cummins's call for on-farm alternative energy development.