Existing grants under the Better Energy Homes Scheme are fixed amounts that are expected to cover approximately 30% of the total cost to the homeowner of the insulation being installed. However, the cost of insulating homes can vary significantly from property to property. Key factors which determine the cost include the type of insulation required, the size of the property and whether there is any existing insulation to be upgraded.
If the existing grant was increased to meet 100% of the cost, it is estimated that the additional full-year (2018) costs would have been approximately €20 million, solely based on the grants paid for attic and wall insulation in 2018. However, it would be expected that actual costs of the proposal would be significantly higher due to increased demand arising from the provision of a 100% grant instead of a 30% grant.
The Government’s Climate Action Plan sets an ambitious target of 500,000 home retrofits to Building Energy Rating ‘B2’ by 2030. I recently announced the establishment of a Retrofit Taskforce that will drive the achievement of this commitment and develop a new national delivery model, which will group homes together, create easy pay back mechanisms and support smart financing.