Dáil Éireann Debate, Thursday - 25 January 2024
166. Deputy Fergus O'Dowd asked the Minister for the Environment, Climate and Communications to outline plans to make available much needed low interest loans for households who wish to migrate to solar panel installations but who cannot afford to do so at present; and if he will make a statement on the matter. [3449/24]
View answerResidential solar PV is supported by the Micro-generation Support Scheme (MSS), which is targeting 380MW of new renewable generation capacity under the Climate Action Plan 23. Grants are available through the Sustainable Energy Authority of Ireland (SEAI) for domestic installations, up to a maximum of €2,100.
Since the introduction of the MSS domestic grant in February 2022, the SEAI have seen application levels rise sharply. In 2023, 22,214 households received grant support totalling €52.2m. This high level of demand is expected to continue into 2024 and indicates that the scheme is working well and that citizens are recognising the benefits of solar PV investment.
It should also be noted that maximising consumption of self-generated electricity will provide the most benefit to offset rising electricity costs and shorten the payback period for the investment in the installation of solar panels. Additionally, the Clean Export Guarantee (CEG) tariff is now available from all electricity suppliers, offering the opportunity for remuneration for excess renewable electricity exported to the grid.
While there are no plans for a dedicated solar PV loan scheme, a residential retrofit loan scheme has been announced by my Department. The recent agreement signed between the Government and EIB Group in relation to the Home Energy Upgrade Loan Scheme is the first of its kind for both Ireland and the EIB Group, and paves the way for low-interest, home energy upgrade loans. The Scheme will help reduce the financial challenges for many homeowners and will play a crucial role in helping homeowners to invest in energy efficiency, making their homes warmer, cheaper to run and helping to lower emissions.
Eligible items of expenditure to be financed by the loans include fabric upgrade of buildings (e.g., insulation) and renewable energy solutions (e.g., heat pumps). Solar PV installations are not eligible as an individual measure but can be an eligible cost as part of a deep retrofit.
