The Sustainable Energy Authority of Ireland (SEAI) has today unveiled a five-year strategic plan with a mission of transforming Ireland into a society based on sustainable energy structures, technologies and practices.

The plan also aims to make Ireland a "recognised global leader in sustainable energy".

Over the course of the five-year strategy, SEAI claims the plan will result in savings of around €6 billion.

The aims of the strategy fall under the key heading areas of: electricity supply, heat supply, energy in buildings, energy efficient products and behaviour, energy in transport, research and innovation, and policy development and analysis.

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Commenting on the announcement, Energy Minister Eamon Ryan said: "Government has set a path for Ireland's new economy. It's green, innovative, knowledge-based and has the potential to set Ireland apart as a leading low carbon economy in the world. Above all it is sustainable. The new economy will bring savings - the €6 billion we can save over the lifetime of this strategy is the equivalent of our annual fossil fuel bill. It will bring investment and most importantly jobs for our people."

SEAI Chief Executive, Professor Owen Lewis added: "In the lifetime of this strategy, I envisage that Ireland will have made substantial further gains – in renewable electricity, in upgrading the efficiency of buildings, in improving energy efficiency in business. We also want to see the start of strong export-led growth in sustainable energy products and services."

Today also sees a name change for the Authority. Formerly known as Sustainable Energy Ireland (SEI), the Authority has reverted to its formal legal name, the Sustainable Energy Authority of Ireland (SEAI), given to it in its establishing legislation in 2002.

(NS/BMcC)