PROPOSALS TO finance a €6 billion programme to retro-fit more than one million homes to energy-efficient standards are currently being considered by the Department of Energy.
The Sustainable Energy Authority of Ireland, formerly Sustainable Energy Ireland, yesterday launched an ambitious 25-year plan to create a “green”, smart society, powered by renewable electricity and with a carbon neutral, public transport system.
However the authority said its immediate short-term target was to increase the energy efficiency of existing homes and businesses.
While 90,000 homes had upgraded their energy efficiency over the last five years, the estimate for this year alone was 60,000, chief executive of the authority Prof Owen Lewis told The Irish Times.
Prof Lewis said next year’s target was for 100,000 homes and while the required one million homes would cost in the region of €6 billion to retro-fit, the authority was already in talks with the Irish Bankers Federation and individual banks on financing a “pay-as-you-save” scheme.
Prof Lewis said banks had shown interest in lending for such a scheme.
Pay-as-you-save schemes have been introduced in other countries. They operate by households paying for the energy-saving measures over time.
Minister for Energy Eamon Ryan revealed earlier this week that his department was considering introducing an “obligation” on energy suppliers to ensure their customers were energy efficient.
Such an obligation may typically involve a company such as the ESB paying for the installation of measures such as extra insulation, for which the householder would pay extra on each bill.
In theory, this extra payment could be met through a reduction in bills as a result of the energy savings.
