Financing Home Renovation

Financing Home Renovation

Aligning the stars for deep renovation

Paul Kenny, B.E. C. Eng. Chief Executive Tipperary Energy Agency

Co-funded by the Horizon2020 programme of the European Union

The Journey Deeper into Retrofit

Super Homes was developed through collaboration with National Energy Agency (SEAI), Large Utility (ESB), Research (LIT) and delivered by TEA to demonstrate & test the decarbonisation pathway.

75 Super-Homes

D2 to A2/3 Deep Retrofit

2013-2015

~1000 fuel

poverty/ Shallow

F to E EU SERVE

project 400

buildings E1 to B2

(HES Pilot)

What is Superhomes:

2006 House of Tomorrow Shallow Retrofit 80 homes (F to D)

- Independent expert led renovation: Insulation, Air-tightness, ventilation, solar and Heat pumps.

- Grants, trained contractors, quality control.

- Research, policy, innovation.

- European investment bank subsidy.

Barriers to Deep Retrofit

"I don't know what to do, How do I know what is value for money? What product is good, and what is not?"

"Who will do the work, and how can I trust them?"

"I can't afford the capital cost, but I have high bills!"

"I want cheap finance, but am reluctant to re-mortgage"

"It's too much hassle, if only someone would just do it for me!"

"Who will make sure it is done correctly"

"if I sell the house, all the money will be wasted"

"How can we expect home owners to design and implement a retrofit of this quality ? we need to have an offering, like this" - Irish Government official.

Superhomes 2015-2018 (n=550)

Drivers for Retrofit: Why people "want" to do deep retrofit?

Drivers of retrofit Its part of an overall retrofit, sensible to do it now.

Showing others the benefits of deep retrofit Improving the health of the occupants of my

home Cost (efficiency) of heating my home Reducing fossil fuel use and improving the Environmental performance of my home.

Improving the Comfort in my home

0,00% 10,00% 20,00% 30,00% 40,00% 50,00% 60,00% 70,00% 80,00% 90,00%100,00%

Superhomes 2015-2018

Drivers for Retrofit: Why people don't do deep retrofit?

Barriers to retrofit

Disruption to our home durning the works Need support in selecting and supervising contractors

Cost of the works Access to cheap finance The understanding of what and how to improve my home specifically. The hassle of organising all the different works

0,00% 10,00% 20,00% 30,00% 40,00% 50,00% 60,00% 70,00% 80,00% 90,00% 100,00%

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