The Sustainable Energy Authority of Ireland (SEAI) has published its 'Ireland's Solar Value Chain Opportunity' at its Energy Show in Dublin.

The cost of solar panels has plummeted, dropping by 80% since 2009. In the same period, solar PV has become the fastest growing power generation technology worldwide. By 2030 the European solar PV market alone could be worth up to €10bn annually.

Commenting on the analysis SEAI Chief Executive Jim Gannon said: "The market is beginning to grow in Ireland with over 4,000 homes already opting for solar PV as the most cost effective way to meet building regulations. As system costs have come down, Ireland has also seen an increase in the uptake of solar PV on commercial and public sector rooftops as a means of lowering energy bills. Against the backdrop of the recently published draft 'National Mitigation Plan', renewable technologies such as solar PV have an important role in reducing our reliance on imported fossil fuels, and PV is one of the technologies being examined in the context of a future renewable electricity support scheme."

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Minister for Communications, Climate Action and Environment, Denis Naughten, TD said: "This report, like many others prepared by the SEAI, provides the essential evidence-base for policy makers. It demonstrates the significant reduction in solar PV prices and anticipated continued reduction into the future which should lead to solar becoming more competitive and enabling it to challenge for a greater share of new renewable energy developments."

Over the two days of the Energy Show (05 - 06 April), more than 4,000 energy experts, business owners and professionals from all sectors are expected to gather to learn about the latest energy saving and renewable energy technologies available to them.

The show is free for businesses to attend.