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Making the announcement, Energy Minister Eamon Ryan and Environment Minister John Gormlet said the national insulation programme was aimed at stimulating economic recovery.
The three-strand insulation programme will cut heating bills for householders, reduce carbon emissions and create a mooted 4,000 jobs over the course of this year.
Minister Ryan said: "This programme will provide a welcome boost to the economy. Central to Government spending in sustainable energy is to get the economy back on track. We need to replace the spending and lending that has contracted and re-focus our public and private investment.
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"Construction workers will benefit from the thousands of jobs these measures we create. These will be jobs for trades-people throughout the country," he said.
Minister Gormley said: "This plan is a welcome kick-start to the overhaul of our housing stock which Ireland badly needs. Government assistance will not be confined to those in private homes but will include those in low income and social housing."
Mr Gormley said the refurbishment of local authority housing will help tackle the fuel poverty that exists in Ireland, particularly during cold weather.
"This is a programme that benefits our economy, environment and householder at the same time," he said.
The programme will consist of a number of grant schemes. The Home Energy Saving Scheme (private middle income homes) worth €50m; and Warmer Homes Scheme and Local Authority housing (low income private homes and rented local authority housing) also worth €50m.
(PR/BMcC)
