Energy storage sector could create thousands of new jobs by 2035

Thousands of new jobs could be unlocked in the energy storage sector by 2035 according to initial findings from a new Energy Storage Ireland and Green Tech Skillnet report. The estimates range from over 2,000 to up to 5,000 jobs depending on the growth of the sector.

Energy storage could create thousands of new jobs

Headline findings from the upcoming KMPG report “Investment and employment potential in the Irish energy storage sector”, were presented today at the annual Energy Storage Conference, which took place in Dublin.

Among the key findings of the report was the potential for 2,000 to 5,000 new jobs to be created in the energy storage sector by 2035 across the areas of construction, engineering, and financing. This includes both direct and indirect employment.

Energy storage is one of the fastest growing segments within the power sector. This growth is mainly driven by battery storage, but other forms of energy storage such as green hydrogen are also becoming prominent, all of which will prove crucial to unlocking Ireland’s full renewable potential. However, the lack of a consistent talent pipeline for the sector puts this growth at risk, due to an overall lack of awareness of the sector, lack of defined career paths, and a lack of suitable training courses.

Speaking ahead of the conference, Bobby Smith, Head of Energy Storage Ireland, said: “Energy storage has a key role in helping Ireland reduce carbon emissions and provide cleaner, cheaper energy to Irish consumers. Currently 40% of our electricity comes from renewable sources but we need to get this to 100% by 2035.

Energy storage will play a key role in enabling this shift to renewables. However, for this to happen, a significant uplift in investment in energy storage is needed. Investing in energy storage is also investing in Ireland’s energy security, as the more we can rely on renewables like wind and solar, the less we need to rely on imported fossil fuels.”

Energy storage supports renewable energy sources like wind and solar by providing essential back up to the electricity grid and by storing renewable energy at times when we have excess supply or when the grid cannot carry the power. This stored renewable energy is then put back into the grid at times of low wind and solar to replace expensive fossil fuels.

Ireland currently has 700 MW of energy storage, however, the KPMG report shows that up to 8 times more storage than this is needed by 2035. New technologies mean that batteries will be able to store more energy for longer periods, but significant investment is needed to capitalise on the potential and respond to the growing needs.

“Without energy storage we will waste a lot of renewable energy and it will make it harder to phase out fossil fuels. For example, in 2020 Ireland had to turn down enough wind energy to power the city of Galway twice over for the year because our grid wasn’t strong enough to carry the power or because there was not enough demand for this energy during very windy periods.

With energy storage we could soak up this renewable energy and use it at less windy times or when the grid can accommodate it. We need to upweight our energy storage capabilities, and to do this, we need to ensure the right training and development programmes are in place to enable this.,” Bobby added.

Terence McGovern, Director in KPMG Sustainable Futures and lead author of the report said: “Our analysis shows that energy storage has a role to play in all aspects of the Irish economy, from replacing large carbon emitting power stations to reducing costs in our homes and businesses. Ireland’s energy storage sector has grown rapidly in recent years, largely on the back of expertise transferred from the wider renewable energy sector but to deliver its full potential we now need to invest in developing the skills and workforce to meet our much greater future energy storage needs. As our analysis shows, mobilising additional energy storage capacity in the near term will have both immediate and long-term benefits.”

About the annual Energy Storage Conference

The annual Energy Storage Conference took place on 21 September 2023 at Croke Park Stadium. The ESI Conference 2023 will focus on topics such as accelerating deployment of energy storage, the investment landscape in Ireland and the outlook for new long-duration storage technologies. More information: https://events.windenergyireland.com/website/11723/home/

About Energy Storage Ireland

Energy Storage Ireland is a representative association for those interested and active in the development of energy storage in Ireland and Northern Ireland. We work together to promote the benefits of energy storage to decarbonising Ireland’s energy system and engage with policy makers to support and facilitate the development of energy storage on the island.

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