CU Greener Homes

Cu Greener Homes is an initiative that was launched in 2021 between Energia Customer Solutions (electricity and gas energy supply company), the Irish League of Credit Unions (the trade association for credit unions in Ireland) and House 2 Home (a home retrofit company). CU Greener Homes aims to kickstart deep retrofits among Irish homeowners by providing them with a one-stop-shop that shows what energy efficiency improvements can be made to their homes and how to access low-interest finance to carry them out.

The Irish government has set ambitious targets to improve the energy ratings of 500,000 homes to B2 or better by 2030, while also installing 600,000 heat pumps.

Almost two thirds (60%) of homeowners are unsure of what supports and grants are available while 58% do not know where to start with energy efficiency upgrades. The CU Greener Homes scheme will offer grants for up to 40% of the works and low-cost loans from 4.9% APR.

Market research revealed that of those who had recently carried out home improvement upgrades, 60% primarily used their savings to pay for the work, with 21% borrowing money to complete the works. Of this borrowing cohort, 68% turned to their local credit union with just 23% using a bank.
 
One third (33%) of respondents who are planning future home improvements said they would borrow from a credit union, compared to only 10% who plan to take a bank loan.

While there is clearly a desire among Irish households to undertake improvements, the research highlights a lack of knowledge regarding suitable solutions and how to get started. Many (58%) simply do not know where to start with a home energy efficiency upgrade while almost two thirds (60%) of respondents were unsure of what supports and grants are available. 59% said they would carry out more green home improvements if the process seemed more straightforward, indicating a desire to upgrade but uncertainty about how to realise this.

Cormac Mannion, Head of Energy Services at Energia commented, “In the last 12 months we have spent more time at home than ever, so it is unsurprising to see people report that they are seeking new ways to create a comfortable, and cost-efficient environment at home. The CU Greener Homes scheme is an opportunity for households across Ireland to undertake meaningful improvements and changes that will not only benefit them, but also their community, the broader environment and future generations. Through our work to supply 100% green energy to communities across Ireland, we see the tangible benefits of such changes. We are delighted to partner with the Irish League of Credit Unions and House2Home, two organisations that share our commitment to community and sustainability.”

Rory Clarke, General Manager of House2Home commented; “At House2Home we have been providing home energy upgrades to happy customers since 2013. We believe in a cleaner, greener future for our communities and look forward to partnering with the Irish League of Credit Unions and Energia, who share this commitment. We are delighted to bring the full House2Home experience to customers and provide them with one complete solution when they decide to upgrade their home.”

Paul Bailey, Head of Communications of the Irish League of Credit Unions said: “Our aim is to make the process of deep retrofitting easy and cost effective for credit union members with loans from as low as 4.9%.”