Ireland’s remarkable economic growth over the last 15 years had strong effects on the energy sector. Due to rapidly increasing demand, Ireland has become much more dependent on international energy markets than it was in the past. This review analyses the energy challenges facing Ireland and suggests solutions, focusing on moving ahead with market reform and increasing the energy efficiency of the Irish economy. Establishing the “All-Island” electricity market will be of critical importance. Sharper focus on energy efficiency in all sectors of the economy, but in particular in transport and buildings, must be a priority. Finally, to achieve its ambitious goals for renewables in energy supply, Ireland will have to provide ample resources for research and development, to allow technologies such as ocean power to move from the laboratory to the market.