High installation costs are the number-one concern for three-quarters of homeowners when it comes to making home upgrades, with many steering away from retrofitting their homes due to a tight budget, research from Allianz Ireland suggests.
The national survey, which was conducted by Coyne Research in April on behalf of Allianz, surveyed more than 1,000 adults in Ireland.
The thoughts of maintenance and the amount of time it will take to install also deter homeowners from investing in energy upgrades.
Nonetheless, homeowners are increasingly switching to more sustainable upgrades, with increased insulation or triple-glazed windows being the most popular (32 per cent).
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The research also found more than half of adults intend to buy an electric vehicle in the future (57 per cent), with 7 per cent of the population already owning one.
Compared with previous generations, Generation Z and millennials have the highest intentions of buying an electric vehicle, with 14 per cent intending to purchase one in the next year.
Millennials are much more likely than any other generation to pursue these upgrades, with this group also more likely to install an air-to-water heat pump or a wind turbine.
A cost breakdown shows four in five electric car owners own an electric vehicle valued below €50,000, while one in five own an electric vehicle priced at €50,000-€75,000.
When it comes to future purchasing intention, seven in 10 are likely to purchase a vehicle below €50,000.
According to the research, the joint top two reasons for purchasing an electric vehicle are cheaper running costs (27 per cent) and that it is better for the environment (27 per cent).
Rising fuel prices are also a big contender in the purchase decision of Irish drivers (16 per cent), with one in six claiming they went electric to avoid the fuel price increases.
The main cause for concern when it comes to electric vehicles is high purchase cost of switching (39 per cent) and limited charging points (24 per cent).
Over two in five drivers claim breakdown assistance is the most important factor for electric vehicle insurance to cover.
Insurance cover for charging cable or component theft (14 per cent), leased battery cover (14 per cent) and electric vehicle as a replacement (13 per cent) are the next most important factors.
The survey follows the announcement of a number of initiatives by Minister for Transport Eamon Ryan to make it easier for people and businesses to switch.
They include a grant for electric vehicle charging points in apartment blocks which will make it easier for people who live in apartments and multi-unit dwellings to charge an electric vehicle.
Mr Ryan also said a new dedicated office called Zero Emission Vehicles Ireland would oversee Ireland’s transition to zero-emission vehicles.
He also announced an expansion to the home charger grant which will enable any tenants and homeowners to apply for a grant, whether they own an electric vehicle or not. This can also be used for visitor use or at rented accommodation.
