News Irish News

Sunday 4 December 2016

Now borrow from your bosses for home renovations

■ Bike-to-Work style tax breaks for energy refits

Paul Melia Environment Editor

Published 08/08/2016 | 02:30

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. (Photo by Tracy A. Woodward/The Washington Post/Getty Images)
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. (Photo by Tracy A. Woodward/The Washington Post/Getty Images)

Interest-free loans from employers for home renovations worth up to €30,000 to cut energy bills are in the pipeline.

  • Go To

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.

Irish Independent

Read More

Promoted articles

Editor's Choice

Also in Irish News