Meeting energy goals to cost €23bn

Ireland needs to invest €22.8bn between now and 2020 if it is to fulfil its legal obligations under EU directives on the environment and energy efficiency targets, it emerged at the launch of Energy Cork.

A strategy document compiled by Energy Cork — the new energy sector cluster supported by Cork City Council and Cork County Council with the backing of Cork Chamber, — outlines the investment required to meet EU directives.

The bill is made up of: €10bn to retrofit buildings to meet with BER standards; €2bn for waste treatment; €8bn for water and water treatment; €0.87bn for climate change; and €2bn in other investment.