Retrofit firm NetZero plans to double workforce adding 1,000 jobs

Company says it expects demand for heat pumps and retrofits to increase significantly in the coming years as homeowners and businesses move away from fossil fuels to lower-carbon heating

Rory O'Hanlon, chief executive of NetZero Group.

Decarbonisation firm NetZero Group said it planned to create 1,000 jobs over the next three years, targeting home upgrades under the range of new Government grants.

Rising homeowner demand and the need to accelerate the national retrofit programme will see the firm target revenues of €400m by 2030.

NetZero was formed by Waterland Ireland in 2023 with current annual revenues of more than €200m. The group operates as a fully integrated national platform across new build, retrofit and service, providing heat pumps, solar panels, insulation, ventilation for the residential, commercial and public sector.

The group, which is announcing it’s planning to double its workforce to more than 2,000 people by 2030, acquired Cork insulation firm EnviroBEad in 2024.

The National Residential Retrofit Plan 2026 expanded support for homeowners, including increased heat pump grants of up to €12,500, while official figures published by the Department of the Environment show overall applications for home energy upgrades were up 96% so far in 2026, with individual applications up 186% on the first quarter of 2025.

The Government has committed to upgrading 500,000 homes to B2 BER or cost-optimal equivalent and installing 400,000 heat pumps in existing homes by 2030.

However, the group believes the current pace of heat pump deployment and retrofit activity will need to accelerate significantly if Ireland is to meet its 2030 targets. 

Rory O'Hanlon, chief executive of NetZero Group, said: "We believe demand for building decarbonisation will increase significantly over the coming years as more homeowners and businesses move beyond simply replacing ageing oil and gas boilers and instead invest in lower-carbon heating and energy solutions.

“Government support, rising energy awareness and the transition away from fossil fuel heating are creating a significant long-term growth opportunity. Our role is to make that transition simple for customers. 

"NetZero Group has built a national platform with the scale, technical capability and service infrastructure to support customers throughout the entire lifecycle of their energy systems, from initial design and installation through to servicing, maintenance, repair, replacement and future upgrades.

“We see substantial opportunities for continued growth in Ireland and internationally. As the market continues to expand, we expect to further strengthen our market leadership by expanding our capabilities, service offering and geographic reach."

NetZero installed about 7,300 heat pumps over the past 12 months, with the majority delivered in new-build homes. The company also completed about 3,400 retrofit projects over the same period and believes retrofit activity will become an increasingly important growth area as homeowners respond to enhanced supports and higher awareness of energy costs.