Just under 280,000 homes have received some form of Government assisted energy efficiency upgrade since 2009 under the Better Energy Programme. This represents approximately one sixth of all homes in the country. While applications for grants under the Better Energy Homes Programme have been falling, this has been somewhat offset by a surge in applications under the Better Energy Areas and Communities Schemes, which provide grant funding for local community-based projects, as well as homes. Funding has been maintained for the Better Energy Warmer Homes Scheme, which provides energy efficiency upgrades free of charge to households in energy poverty.
The National Energy Efficiency Action Plan and the Programme for Government include a commitment to roll out a Better Energy Financing scheme, effectively a Pay-As-You-Save type model, for domestic buildings. The key benefit to homeowners of the Better Energy Financing mechanism would be that it would allow them to secure up-front financing for energy efficiency upgrades to their homes. The up-front funding would be repaid via savings on the customers’ energy bills arising from the energy efficiency measures.
My Department worked with SEAI under the direction of a Project Board representing State and industry stakeholders to consider the range of financing options that may be available. As well as accessing expert technical, legal and financial advice, detailed analysis of similar schemes in other jurisdictions was undertaken and a public consultation carried out. My Department is continuing to work with the SEAI to try to identify a viable and attractive financing mechanism. A pilot programme is planned for 2015 to test the market for a Better Energy Financing scheme, the result of which will inform any wider roll-out options.