The number of homes retrofitted in the second quarter was up 150 per cent on the same period last year, suggesting activity is on track to meet or surpass the State’s target for the year despite concerns the cost-of-living crisis could cool activity.
The Sustainable Energy Authority of Ireland (SEAI) published a report on Friday giving details of the 21,727 home energy upgrades supported through Government-funded grant schemes in the first half of the year.
The report also noted that expenditure across all schemes climbed to €129.9 million, up 121 per cent on the same period last year.
It said there remained “a strong pipeline of demand” for the rest of the year, which suggests the State’s target of 37,000 upgrades in 2023 will be met. The report pointed to the rising cost of living as a potential barrier to people carrying out work on their property.
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“While the higher level of inflation and fuel price increases experienced in 2022 have eased, cost of living and affordability issues are anticipated to be an ongoing concern amongst some homeowners,” it said. “This could have an impact on their ability and willingness to undertake a retrofit on their homes at this time.”
SEAI has processed more than 31,500 grant applications across all schemes, up 41 per cent on the same period last year.
Solar PV property upgrades are up 231 per cent over last year. The report pointed to the removal of VAT on solar panels as having driven “significant demand” on the programme that it said was likely to continue for the rest of the year.
Elsewhere, the report said more than 7,500 homes had been upgraded to a BER B2 or higher rating, which was up 210 per cent on last year.
In addition, 2,346 property upgrades were completed through programmes focused on homes at risk of fuel poverty, a figure that climbed 20 per cent on the same period of 2022.
Some 7,122 attic and 5,641 cavity wall upgrades were supported, which the report noted was “one of the most effective ways” to make a home warmer and more efficient.
The report said applications to some schemes were down slightly on the previous quarter, but in all cases applications were higher than the same period last year.
“This slight reduction is not wholly unexpected as there tends to be a seasonal dynamic to the home energy upgrading,” it said.
SEAI director of national retrofit Dr Ciaran Byrne said overall demand “has remained very strong” across all schemes.
“On the supply side, the additional registration of five one-stop shops this quarter points to continued strong interest in the longer-term economic opportunities offered,” he said. “We anticipate the increased supply to further drive demand and cost competitiveness.
“The report also profiles the average cost for comprehensive home energy upgrades in the first full year of operations of the one-stop shop scheme. Across more than 300 homes already upgraded from an average BER of E1 to A3 or better, the average cost is €38,200 after grant.”
