Home retrofit in Ireland – what to look out for in 2024
2023 was a bumper year for home retrofit measures across Ireland, with the SEAI in September reporting the completion of over 22,000 home energy upgrades, including an increase in Solar PV installations of more than 230% above 2022 levels.
Low interest green loans
The government and the European Investment Bank (EIB) are expected to release long awaited details of low interest loans for home energy upgrades early in 2024.
These loans, backed by a €500 million scheme will encourage homeowners to invest in the energy efficiency of their homes allowing for borrowing from €5,000 to €75,000 on an unsecured basis for up to 10 years. Importantly, these loans will carry interest rates that are “significantly lower than those currently available on the market as a result of the combination of the EIB group loan guarantee and a government-funded interest rate subsidy.” Source: government press release.
The loans will be available for energy upgrades that are being grant-aided by the SEAI, with full details of the application process being made available early this year.
Use our Energy Upgrade Calculator to see specific recommendations and estimated prices for changes to your home.
Further growth in solar PV installation
With reports that domestic users are installing an average of 500 solar PV systems a week, there’s no expectation of a slowdown during 2024. The growing popularity of domestic solar panels has been aided by a number of developments over recent years including the introduction of planning exemptions in 2022 that removed the need for planning permission for rooftop solar panels. A further boost came during 2023 when the VAT rate for the supply and installation of solar panels for private homes was reduced to zero. This has been reported to provide savings of around €1,000 on a typical install, making solar PV more attractive than ever for Irish home owners.
Check out our solar partners and get started on your solar PV journey today
