Dáil Éireann Debate, Tuesday - 22 March 2022
126. Deputy Francis Noel Duffy asked the Minister for the Environment, Climate and Communications if his Department has considered introducing an equity release scheme for pensioners and persons nearing the pension age as part of the retrofit package; and if he will make a statement on the matter. [14035/22]
Amharc ar fhreagraThe National Retrofit Plan sets out the Government's approach to achieving the Climate Action Plan targets of upgrading the equivalent of 500,000 homes to a Building Energy Rating of B2/cost optimal level and installing 400,000 heat pumps to replace older, less efficient heating systems by 2030. The Plan is designed to address barriers to retrofit across four key areas: driving demand and activity; financing and funding; supply chain, skills and standards; and governance. In line with commitments in the Plan, the Government recently approved a package of significantly enhanced supports to make it easier and more affordable for homeowners to undertake home energy upgrades. The new National Home Energy Upgrade Scheme will provide increased grant levels of up to 50% of the cost of a typical deep retrofit to a B2 BER standard. A network of One Stop Shops will offer a new end-to-end project management service for homeowners. This includes surveying the home; designing the upgrades; managing the grant processes; helping with access to finance; engaging the contractors to deliver the work and then quality-assuring that work.
In addition, increased grants for attic and cavity wall insulation have also been made available, covering 80% of the cost to homeowners of these highly cost-effective upgrade measures. Free upgrades are also available for households at risk of energy poverty. My Department is also developing a residential retrofit loan guarantee scheme which will enable financial institutions to offer loans with reduced interest rates for retrofit projects. An equity release scheme is not being considered at this time.
