Mr. Pat Barry:

On the low-interest loans, this discussion came up about five years ago when the Sustainable Energy Authority of Ireland, SEAI, was developing the Better Energy finance scheme, which was tracking the UK green deal initiative. The intention was to transition from grants to low-interest loans. The only commercially viable loans that the banks were suggesting were possible were around 7%. A lot of work was done, including with the banks, on the cost of subsidising the 7% down to 2% and 1%, the findings of which are available. We can do a lot with green mortgages paid over a longer period of ten or 20 years because then the additional cost to the mortgage is insignificant and it does pay for the energy bills.

In terms of prioritising rural housing, perhaps we should focus more on rural villages and towns because we would get better payback. A single house with four walls costs twice as much to renovate as an apartment above a shop in a rural town. The cost of renovating that apartment to a high standard is a fraction of the cost of renovating a house. If a house is reaching the end of its life in a rural situation, it might be better to move the occupants 1 km into the local village to an apartment above a shop. This brings life into the town and reduces the need for a car, which reduces the carbon from the house and the transport.

There is great work happening in the context of the Limerick regeneration project. Those involved are reimagining the centre of Limerick by renovating old Georgian buildings and transforming the streets as well to bring life back to them so that families will move into the centre of Limerick and renovate properties. Cars are being banned from the centre and playgrounds are being put in place. It is very inspiring. Targeting some of our smaller towns in this way would bring great benefit. For example, the installation of the greenway in Dungarvan has made it into a very vibrant place, but there are so many abandoned houses in Dungarvan that could be turned into excellent accommodation. This would in turn remove the need for one-off housing and it brings life to areas and makes them attractive to live in.