People living near renewable energy projects may get a discount on their electricity bills in Northern Ireland

Known as the Renewable Energy Price Guarantee (REPG) scheme, it is designed to encourage investment in wind, solar and energy storage projects to help meet the goal of generating 80% of energy from renewable sources by 2030.

Renewable sector leaders welcomed the announcement but added that "ambition must now be matched by delivery". 

 Stormont Economy Minister Caoimhe Archibald said the scheme would "boost renewable generation and deliver lower electricity costs to households than they are paying today".

 A report from Northern Ireland’s Department for the Economy acknowledges that the success of the 2030 target "will depend on the availability of a sufficient pipeline of renewable projects and the development of electricity infrastructure to support additional generation".

 Capacity limits in the electricity grid have resulted in instances where wind power has had to be switched off – known as "dispatching down" – to protect infrastructure.

Tamasin Fraser, chair of RenewableNI said the announcement would create jobs and attract investment, creating "stability" for consumers.

"It is one of, if not the, most directly beneficial actions the executive has taken to power economic growth here, particularly in rural areas," she said.

"We've seen over the last numbers of years the impact that the war in Russia/Ukraine has had on bills by relying on imported fossil fuels. We can harness our own clean, green, indigenous resources and that will help hedge against that volatility."