The government has announced new retrofit plan aiming at making private homes energy efficient across the country. As per the plan, individual private homes will be given €25,000 grant to retrofit their homes with proper insulation. This is the highest grant the government ever offered for home retrofitting in the history of Ireland.
The Home Energy Upgrade Scheme aims to bring the current E2 rated homes to standard B2 rating which will help them to reduce energy use and save annual billings. Almost two third of the money spent for energy can be saved through this, the government says.
The plan covers 45% to 51% of the cost of retrofitting. For example, the cost of insulation for an average hollow block semi-detached home is €53,000. Through the plan, the home owner can avail grant up to €26,000.
Almost €5 billion of the €9.5 billion in additional funds raised by carbon taxes will be targeted at home efficiency. The government expects 500,000 homes to avail the scheme by 2030.