Sir, – In December 2025, one in seven households were in arrears on their electricity bills. This is stressful for those impacted and they need financial support to repay the debt. It is an issue that deserves urgent Government attention.
However, on the plus side, more than €170 billion was held in Irish deposit accounts as of this January. It is assumed most of this wealth is held by the six in seven Irish households who can afford to pay their electricity bills.
Deposit accounts typically earn paltry interest and their real purchasing value is constantly diminished by inflation. The Government is in the process of designing a new special savings scheme to generate higher returns, but what if the Government also encouraged deposit account holders to spend their savings on installing rooftop solar panels? This advice could be underpinned by a guaranteed return of lower bills because of reduced reliance on fossil fuels to generate electricity.
It looks as though fossil-fuel costs will remain unstable and unpredictable for the foreseeable future. Without resolution of the Middle East conflict, the possibility of oil rising to $200 per barrel has been mentioned by some energy experts. Ireland is very vulnerable to fossil-fuel price shocks. The Sustainable Energy Authority of Ireland (SEAI) reported that in 2024, Ireland’s overall energy import dependency was 79.6 per cent. The bulk of this was fossil fuels.
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I suggest the Government urges households to deploy some of their funds held on deposit to purchase rooftop solar panels. This will deliver very good value for money and is a socially responsible investment. Currently, SEAI pays a grant of up to €1,800 and no VAT applies to solar-panel installation costs.
Households that generate solar energy will have a considerably reduced reliance on the electricity grid. Households will also be able to generate revenue by selling any excess solar energy to the grid. This could leave some people in a credit position with their energy provider.
Widespread solar-panel installation would inevitably lead to a reduction in the need to import liquified petroleum gas and oil. Consistent Government backing in this area would be a positive step towards the goal of energy independence. – Yours, etc,
MARK FOX,
Shankill,
Dublin.
Sir, – We’ve been hearing a lot about the Government’s proposed new savings scheme to give Irish investors a better return on deposit savings and encourage investment into Irish businesses. The Swedish scheme is being touted as its basis, but details have to be ironed out. There is, no doubt, a squad of civil servants working on it.
Why not, for example, simply exempt the first €5,000 in deposit interest from any tax. Additionally, increase the tax relief on the Employment Investment Incentive scheme from, say, 50 per cent to 100 per cent and see how it goes. – Yours, etc,
PÁIDÍ KIERNAN,
Rathfarnham,
Dublin 16.
