'National retrofit wave' would create thousands of jobs and billions in disposable income

A significant gain from retrofitting would be the rapid reduction in fuel poverty, while lower energy bills for all households could lead to up to just under €4.5bn of additional disposable income. within the Irish economy. File picture: Getty Images

Targets for mass retrofitting of Irish homes must be far more ambitious for policymakers, with the potential for 32,000 new jobs, €600m in economic savings every year, and billions in extra money for citizens to spend.

That is according to a new analysis by the International Energy Research Centre (IERC) based at Tyndall National Institute in Cork, which said as well as the "massive" energy savings that would assist in the climate crisis, there would be €4.5bn of additional disposable income for citizens due to a fall in utility bills.