Electricity prices could “dramatically escalate” over the next nine years — possibly by 260 per cent — because of an increase in demand caused by data centres and the switch to renewable energy, according to research. A study by the Economic and Social Research Institute (Esri) has found that the size of the increase will depend on public acceptance of renewable energy infrastructure, such as wind farms, and to what extent public objections are taken into account as they are built. About 37 per cent of Ireland’s electricity is from renewable sources and the government has committed to increasing this to 70 per cent by 2030. Electricity demand is also expected to grow by about 40 per cent in that time, largely due to the requirements of data centres, which support cloud computing and the internet.
Times 4th March 2021 read more »