Dáil Éireann Debate, Thursday - 7 April 2022
190. Deputy Jennifer Whitmore asked the Minister for the Environment, Climate and Communications when the interest rates for loans as part of the national home retrofitting scheme will be decided; when the one stop shops will be launched; if the locations of each have been determined; and if he will make a statement on the matter. [18929/22]
View answerThe recently launched National Home Energy Upgrade Scheme introduces a new, highly customer centric, way to undertake home upgrades. SEAI registered One-Stop-Shops will provide an end-to-end service for homeowners. This includes surveying; designing the upgrades; managing the grant process; helping with access to finance; engaging contractors; and quality assurance. The Scheme offers unprecedented grant levels, increased from around 30% to 50% of the cost of a typical B2 home energy upgrade with a heat pump.
Following Government approval, the SEAI registration portal opened for companies to apply to be a One-Stop-Shop. The SEAI advise that the first One Stop Shops have now been registered and more are working through the process.
It is expected that the One-Stop-Shops will be distributed across Ireland, with a considerable number offering services nationwide through their network of contractors throughout the country. Other One-Stop-Shops will likely work within geographic regions. This will ensure that every home can benefit from the One-Stop-Shop service on offer over time.
My Department is engaging with Department of Finance and the Strategic Banking Corporation of Ireland in relation to the development of a residential retrofit loan guarantee scheme. The loan guarantee scheme is part of Ireland’s National Recovery and Resilience Plan and will be co-financed by the EU Recovery and Resilience Facility and Exchequer funding. The specific features of the scheme, including its risk model, pricing and the level of discount achievable, are still under development. The interest rates under the loan guarantee will be decided in the coming months, in time for the introduction of the scheme scheduled for Q3 2022.
The loan guarantee will enable credit institutions to offer loans with reduced interest rates to private homeowners and non-corporate landlords and make comprehensive home energy efficiency upgrades even more affordable and accessible to more consumers. This approach will signal to the banking sector new, sustainable business opportunities associated with retrofit and the transition to a low carbon economy as well as increasing the volume of retrofit activity within the State.
