Individual homeowners will soon be offered grants of more than €25,000 that will assist in paying for deep retrofits to their homes. The program has been considered to be the largest home insulation scheme offered in the State. Minister for the Environment Eamon Ryan is expected to make the announcement regarding this on Tuesday.
The new Home Energy Upgrade Scheme for private homes will cover 45% – 51% of the cost of a deep retrofit. This is expected to improve a dwelling’s energy efficiency to a B2 rating.
Many homeowners have faced high upfront construction costs associated with improving poorly insulated homes. The flagship program will see sizeable grants available to qualifying homes.
It’s understood that the targets set for this program will see 500 000 homes retrofitted to B2 standards by 2030 and the additional installation of 400 000 heat pumps. The State will for example contribute €26,000 of the €53,000 cost of deep-retrofitting works on an average hollow block semi-detached home with an E2 rating.
Added to this the program will raise almost €5 billion of the €9.5 billion in additional funds raised by carbon taxes will be targeted at home efficiency. In addition to the grants, it is understood the Government will also offer low-interest loans to homeowners.
LSL News.