45% of consumers would like to do more to improve the energy efficiency of their homes, new research shows.
However, the survey carried out by AIB reveals that affordability is the top barrier for many.
Almost 60% of those surveyed who had taken measures to improve their energy rating, did so to save costs and improve home comfort.
Most consumers reported having double glazing and at least some internal insulation.
However, only 30% have external insulation, and figures for heat pumps and solar panels were also considerably lower at 16% and 12% respectively.
Many consumers are considering future energy efficiency options, with 24% considering solar panels and 10% considering heat pumps.
Despite their interest in improving their home energy efficiency, 62% said costs are holding them back.
But AIB pointed out that many households are leaving free or cheap money on the table.
Only two thirds of customers applied for a grant from the Sustainability Energy Authority of Ireland (SEAI) when installing their Solar Panel System, while just three in ten applied for the grant when installing their heat pump, with a further proportion of people unable to remember if they applied or not.
Today's report states that this could suggest that further education on available grants and their terms would be helpful.
"Recognising that retrofitting comes with upfront costs that can be substantial, depending on the extent of the work, we wish to highlight the generous government grants, lender incentives and other helpful information and services available to people wishing to retrofit their homes," said Mary Whitelaw, AIB Chief Strategy and Sustainability Officer.
"While the financial savings and enhanced home comforts are important benefits, retrofitting also supports the national and European drive to lower carbon emissions helping protect our people, our planet and prosperity for generations to come," she added.
The report details how SEAI grants can make a huge difference to the cost of upgrading a home from a low E building energy rating (BER) to a high A rating.
For example, it states that the median cost of retrofitting a mid-terrace house is €52,383.
However, a household could avail of SEAI grants, which for a mid-terrace house would total €19,800. This brings the overall median cost to the household down to €32,048, a saving of 38%.
