Significant savings though cutting energy waste

The analysis indicates that delivering these energy efficiency improvements could also boost the Government balance sheet by around €1 billion.

Speaking at the launch of the report, Dr Eimear Cotter, head of Low Carbon Technologies at SEAI said:  "Already Ireland is saving €700 million a year through greater energy efficiency. It is good for households, good for businesses and good for the economy.”

Citing the announcement by Minister Alex White of €18.7 million funding Better Energy Communities projects, Dr Cotter continued: "These projects will make lifetime savings of €140 million. They are great examples, along with the more than 300,000 households that have acted to make their homes more efficient and the 3,000 businesses that are using energy more efficiently.”

Dr Cotter added "This in-depth analysis provides the evidence that the benefits of energy efficiency far outweigh the costs. But it also shows that not everyone has acted and there is huge potential to do so. It is time for homeowners and businesses to actively engage with energy efficiency as a way of reducing their energy bills and bringing the wider benefits, such as health and wellbeing, to society.”