This is true even though the development of the renewables sector during that time required more than €6 billion in government subsidies and network costs.
Achieving the national goal of 80% renewable electricity by 2030 may save an additional €640 million annually on electricity prices, according to the report. International energy specialists Baringa prepared this report for Wind Energy Ireland.
In the two decades leading up to 2020, the total cost of building Ireland's wind energy sector came to almost €155 per person.
In addition to the significant network, systems, and balancing costs connected with the creation and operation of the national power grid, that money was used for government subsidies for the construction and operation of wind farms.
But when energy prices skyrocketed over the last four years, our new research demonstrates that all of that investment has paid off handsomely for consumers.
Irish consumers were largely shielded from the skyrocketing cost of gasoline by domestic renewables, according to Baringa, which reduced power rates by an average of €320 per person over those four years.
Combining the two time periods—before and after 2020—means that every man, woman, and kid in the nation has saved a net €165 on electricity costs because to the growth of renewable energy in Ireland, and wind farms in particular.
The research also claims that since 2000, the need to burn petrol and coal worth €7.4 billion has been saved thanks to the switch to renewable energy from fossil fuels.