With the shock news about the deep retrofit funding drying up, and then the complete reversal of the decision to end the scheme, Homeowners are increasingly worried about whether or not the Solar PV Pilot Grant and other grant schemes will be affected.
Richard Bruton (Minister for Communications, climate action and environment) confirmed that the 300 households on the waiting list for the ‘deep retrofit’ program, will have their applications assessed and honoured.
So What about the solar PV grant? The SEAI confirmed that as of now this funding has not dried up and recent publications from the SEAI have clarified this; it should put homeowners minds at ease.
So now that’s out of the way lets talk shop.
While we are safe with our grant, for the time being, it is no time to sit on our thumbs.
Several factors could change this very quickly
- If we look at the governments Climate action plan; This mentions the introduction of a feed-in tariff to help achieve our very ambitious target of 70% renewables for the electricity sector by 2030. A feed-in tariff that is in any way good value for a customer will be the end of the grant.
- Brexit. With the increasing likelihood of a no-deal Brexit, we believe that short term budgets may be directed elsewhere.
At the moment there is a very lucrative grant going that can pay up to €3,800 for a solar PV job.
As it stands, this will get payback down to about 7-10 years.
With increasing electricity costs, the new carbon tax and also the new feed-in tariff we would expect payback to be shortened to below five years.
The good news is for those who cannot front the bill is that nationwide Credit Unions are setting up green energy schemes to help homeowners pay for the balance at a very reasonable % APR.
If you are thinking of going green and want no strings attached advice, talk to us at Eco Horizon. We have extensive knowledge of the industry and are not here to sell aggressively.
Drop us a line, and we will help you any way we can.