Installation of 2,000 Climote remote-control hceating systems in Social Housing Development, Louth. IEEF financed the equipment and installation costs with investment returns derived from the sale of Energy Savings Certificates to Electric Ireland, under the Energy Efficiency Obligation Scheme (EEOS). Each Climote unit delivers 1,760 kWh of deemed energy savings under the EEOS, as stipulated by SEAI. These savings generated energy saving credits which were purchased at a commercial rate by Electric Ireland and will be used to help meet the utility’s energy poverty targets under the EEOS. There is no ongoing operational and maintenance requirement.
The Louth County Council project demonstrates that social housing retrofit can be funded on a commercial basis, using the innovative revolving equity financial solution provided by IEEF. The project is the first of a much larger opportunity to upgrade social housing units across the country. IEEF envisages financing the installation of Climote units along with other energy efficiency measures across a large number of Irish social housing units.