Government climate policy ‘may hike home prices’
The price of homes could rise as a result of Government initiatives planned to tackle climate change, Taoiseach Leo Varadkar has admitted.
A plan to reduce carbon emissions will be published in the coming weeks. It is expected to include radical proposals, such as banning gas boilers and ensuring buildings have electric car chargers.
The new policies come as elections later this week are expected to see a surge in support for the Greens at a local and European level.
Mr Varadkar refused to comment on weekend reports that the plan will include banning the installation of gas and oil boilers in new homes within the next three to six years respectively.
Nonetheless, he confirmed that the new policies would be finished “in the coming weeks”, adding: “There is no single action that is going to tackle climate change.
“What is required are big changes, not just by Government but by local authorities, at European level, by businesses, by individuals, so we are all going to have to make big changes.”
According to a leaked draft of the plan, there will be new regulations to make buildings more energy efficient, a ban on single-use plastics such as polystyrene food and drink containers, and reforms to the motor tax system.
It is also understood the plan suggests phasing out the use of fossil fuel heating systems in homes and the need to have electric car chargers in buildings with 10 or more car-parking spaces.
Asked if the measures could add to the cost of building or buying houses, Mr Varadkar, speaking in Mullingar, Westmeath, said: “Potentially, but you have to think of the opportunity too.
“All of us spend an absolute fortune heating our homes. Just think of the amount of money you have spent in a lifetime heating your home.
"If we build energy-efficient buildings, near- zero energy [emission] buildings, the actual savings over a lifetime are much greater than the cost of insulating your home or building it right in the first place.”
He said there were existing supports for homeowners and “will be more”, adding: “But we also need to be honest with people; the cost of retrofitting all of our homes in Ireland is about €50 billion.
"No government of any colour or party would be able to find that money.”
Mr Varadkar said Ireland spent billions per year importing energy, and that doubling renewable energy production to 70% could save huge sums and create jobs.
Meanwhile, a spike in support for the Greens in weekend polls ahead of Friday’s elections gives them 7%.
The same Red C poll has Fine Gael down five points to 28%, Fianna Fáil up one to 24% and Sinn Féin down one to 13%.
Polling for the three MEP constituencies is likely to stun Fianna Fáil, where it looks doubtful that the party will get even one seat in Midlands-North West, while Fine Gael could clinch a second seat there if the party gets first-time candidate Maria Walsh over the line.
