A number of Dublin firms have stated that power outages would mean a ‘total inability to function’ and for some, ‘increased carbon emissions due to dependence on generators.
Reduced productivity, a loss of sales and reputational damage have been voted as the most commonly feared consequences as 78 per cent of firms remain concerned about winter power outages.
Dublin Chamber believes a ‘going green’ tax credit is required, along the lines of the R&D tax credit to help firms tackle the high levels of upfront capital investment and long payback periods required to reduce energy consumption.
When Dublin businesses were asked whether they could reduce their energy usage between peak hours (5–7pm) to lessen pressure on the grid, more than half (57 per cent) said that they could, but as some noted ‘not without significant investment’.
“Energy capacity and security is vital to the continued prosperity and growth of Dublin. Capital investment in upgrading infrastructure, expanding capacity and ensuring security of supply will need to be supported by Government,’ says Dublin Chamber’s Director of Public and International Affairs, Aebhric Mc Gibney.