€70m fund to slash power bills
COMPANIES hoping to reduce their power bills and help combat climate change will be able to access a €70m fund to upgrade their lighting and heating systems.
The National Energy Efficiency Fund will involve the Government and private sector funding works in businesses and public buildings, including installing low-energy lighting to help reduce costs.
Energy Minister Pat Rabbitte said the Government had committed €35m this year, with another €35m to come from the private sector, but that the fund could grow.
"The potential is to leverage €300m," he told the Irish Independent. "We have retrofitted about 261,000 houses, and for public and commercial buildings there's tremendous opportunities.
"We believe investment of about €1bn is needed to meet EU targets (on energy efficiency). Hospitals and prisons are a glaring opportunity."