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  • Homeowners
  • 5 min read

Homeowners play a key role in Ireland’s journey towards a greener, more sustainable energy future.

A grey heat pump in a homeowner's garden

By Arianna Taroni, Marketing Manager with SBCI

The homes we live in account for over 21% of total energy use in Ireland, with the majority used for heating. 

On a positive note, homeowners are increasingly looking for ways to make their homes more energy efficient saving both energy and cutting down on bills. Whether it’s topping up your attic or wall insulation, replacing old drafty windows and doors with more efficient ones, or swapping out your oil / gas boiler for a heat pump, energy upgrades are a smart investment for you and our planet. 

However, the upfront costs can be a real hurdle for some, and that’s where the Home Energy Upgrade Loan Scheme can help.

What is the Home Energy Upgrade Loan Scheme?

Launched by the Strategic Banking Corporation of Ireland (SBCI) with support from the Department of Climate, Energy and the Environment and the European Investment Bank Group, this government-backed initiative is designed to make energy upgrades more accessible and affordable for homeowners.

The purpose of the loan is to carry out home energy upgrade works that are also grant-aided through the Sustainable Energy Authority of Ireland (SEAI). You can borrow from €5,000 to €75,000 for a term of up to 10 years.

The loan scheme offers low-cost finance through eleven participating finance providers (AIB, Bank of Ireland, PTSB, Avant Money in partnership with An Post Money, and seven credit unions, Clonmel, Connect, First South, Listowel, Naomh Breandan, North Midlands, and Progressive), helping to fund a wide range of energy-saving improvements. 

What can you upgrade?

The scheme supports a broad range of home energy improvements, including:

  • Insulation (walls, attic, floors)
  • Heat pumps
  • Window and door replacements
  • Solar PV*
  • Ventilation improvements to maintain indoor air quality

*While solar PV panels aren’t eligible as a standalone upgrade, they can be included as part of a complete home energy upgrade.

Why consider the Home Energy Upgrade Loan Scheme?

Making the decision to improve the energy efficiency of your home, whether installing attic or wall insulation, or carrying out a complete home energy upgrade, requires some level of financial investment. A low-cost loan can really help in this situation. Here are some of the key benefits of taking out a loan under the Home Energy Upgrade Loan Scheme. 

  • Lower Interest Rates. Starting from just 2.99% (depending on the finance provider), thanks to the government and EU support.
  • Loan Flexibility. Borrow between €5,000 and €75,000 and spend up to 25% of the loan on non-energy related works (such as redecorating your home).
  • Flexible Repayment Terms. Up to 10 years to repay, helping you spread the cost of energy upgrades over time, making it easier to manage repayments.
  • Upfront Access to Funds. Loans can be drawn down before work begins.
  • No Personal Guarantees. Loans don’t need to be secured against your home.
  • Works with SEAI Grants. Combine both SEAI home energy upgrade grants and the loan to reduce your overall costs.
  • You are not limited to your own bank. You can explore loan options from other participating finance providers to find the best deal.

Who can apply?

This loan scheme is open to anyone who owns a private property in the Republic of Ireland (whether a house or an apartment). 

Whether you are investing in individual energy upgrades such as attic or wall insulation, or carrying out a complete home energy upgrade, all works must be carried out by an SEAI registered One Stop Shop or Community Project Co-ordinator. 

How to get started?

It’s really easy. All you need to do is:

  1. Contact an SEAI registered One Stop Shop or Community Project Co-ordinator. They’ll help you plan your home energy upgrade and apply for the SEAI grant on your behalf. They’ll also prepare a Home Energy Summary Report. This is a one-page document summarising the required works to undertake and is needed by your chosen finance provider.
  2. Apply for the Loan. Provide your Home Energy Summary Report to any of the eleven participating finance providers and apply for your loan.

Why now?

Why not now? With energy prices still a concern, there’s never been a better time to invest in your home’s energy efficiency. The Home Energy Upgrade Loan Scheme helps remove the financial barrier, making it easier for you to enjoy a warmer, more comfortable home, while saving money on your energy bills and increasing your property’s value.

Watch this happy homeowner who got a home energy upgrade

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