Bank of Ireland investing €3million in energy efficiency improvements

Bank of Ireland is investing €3 million over three years in energy efficiency improvements across a number of sites, including the IT Centre in Cabinteely.

The IT Centre investment includes the installation of a new 100 kWp Solar PV renewable electricity system, which will increase the Centre’s Solar PV Array to 200 kWp, with 576 solar panels now in place on the roof. The new installation will generate 92,000 kWhs of renewable electricity annually. Combined with the Centre’s existing renewable electricity system, this will reduce the usage of 180,000 kWhs from the national grid each year.

Bank of Ireland is also installing a new heating system in the IT Centre, with a 450 kW Electric Heat Pump. This will remove the dependence on natural gas boilers, resulting in up to 120 tCO2e carbon emission reductions annually.

Other decarbonisation and energy efficiency projects have already been implemented successfully in the IT Centre over the past few years. The building was upgraded to energy efficient LED lighting in 2021, with 1,250 fittings replaced and a reduction of 270,000 kWhs annually. Hardware decommissioning and related energy projects have seen a reduction of 875,000 kWhs since 2020.

Discussing the investment, Eamonn Hughes, Chief Sustainability and Investor Relations Officer, Bank of Ireland said: “We have implemented a range of initiatives to minimise our environmental impact and this latest investment increases renewable energy in our IT Centre, which is both clean and cost effective. Solar PV systems are one of the most effective ways to produce renewable electricity and combined with the new heating system, this represents a significant upgrade in energy efficiency for our IT Centre. These interventions will ensure we make further progress on our environmental targets, which include making our own operations net zero by 2030.”

Bank of Ireland operates a large and diverse estate portfolio comprised of retail branches, call centres and office buildings across Ireland, UK, Europe and the US.

The Bank has invested c€5.7 million in energy-efficient LED lighting for its branches across the island of Ireland to reduce its carbon footprint. An investment of €36 million in its College Green complex will include upgrading the heating and cooling systems and new lighting with energy efficient technologies.