Now borrow from your bosses for home renovations
■ Bike-to-Work style tax breaks for energy refits
Published 08/08/2016 | 02:30
Interest-free loans from employers for home renovations worth up to €30,000 to cut energy bills are in the pipeline.
Under the scheme, workers would use the loans to replace boilers and a wide range of other works to reduce energy consumption and so cut household bills.
Similar to the Bike-to-Work scheme, the homeowner would benefit from government grants and tax breaks.
Renovation works can include replacing windows, installing roof and external wall insulation and using heat pumps that transfer the heat stored in the earth to warm up buildings.
The scheme is being developed by the Sustainable Energy Authority of Ireland (SEAI).
A Cork-based company, the EPS Group, has already funded works totalling €180,000 for 32 employees, where the cost is repaid through their salary over 12 months.
Allowing credit unions and power companies to finance the works is also being considered under the plan.