The Home Energy Upgrade Loan Scheme
About the new low-cost loan
Investing in energy efficiency will make your home warmer, healthier and cheaper to run, while reducing your carbon footprint. The purpose of the loan must be to carry out home energy upgrade works that are eligible for grant funding through SEAI.
You can borrow from €5,000 to €75,000 for a term of up to 10 years. Loans are available through participating finance providers, including banks and some credit unions. Interest rates are significantly lower than those generally available in the market but differ among the finance providers.
The Home Energy Upgrade Loan Scheme is established and offered by the Strategic Banking Corporation of Ireland (SBCI), supported by the Government of Ireland. It is guaranteed by the European Investment Fund and European Investment Bank.
Benefits
- Loans can help spread the cost of energy upgrades over a period of time, making it easier to balance repayments against savings on bills
- Streamlined process for grant and loan applications
- Approved loans can be drawn before works begin for deposits or milestone payments
- Flexibility to spend up to 25% of the loan on non-energy related works (e.g., redecorating your home)
Key features
- Lower interest rates
- Flexible terms of up to 10 years
- Loans from €5,000 to €75,000
- Loans are unsecured (i.e. there is no charge taken over the property as is the case with a mortgage)
- Full terms and conditions and a list of participating finance providers are available on the SBCI website.
Eligibility criteria
- The purpose of the loan must be to carry out home energy upgrade works
- You must be the owner of the home
- The property must be located in the Republic of Ireland
- The home energy upgrades must first qualify for a grant from SEAI
- The works must be carried out by either an SEAI registered One Stop Shop or Community Coordinator
- At least 75% of the loan amount must be spent on eligible measures listed below
- The home must be projected to achieve a min 20% uplift on the current energy performance (BER) of the building
- Loans cannot be used to fund projects that have already completed the works
Full terms and conditions are available on the SBCI website here.
How to apply
Step 1 - Find a contractor
Contact an SEAI registered One Stop Shop or an SEAI Community Project Coordinator to plan your home energy upgrade. They will
- Help you to access financial supports, including SEAI grants and the Home Energy Upgrade Loan Scheme
- Give you a Home Energy Summary Report for qualifying energy upgrades, which you need to apply for the loan
Step 2 - Apply for the loan
Apply for a low-cost loan with one of the participating finance providers listed on the SBCI website.
Once approved for your loan you will have access to the funds upfront, allowing you to complete your energy upgrades and start enjoying the benefits of a warmer, healthier home.
Grant routes that qualify for Home Energy Upgrade Loan Scheme
You must avail of an SEAI home energy upgrade grant and use a registered One Stop Shop, Energy Partner, or Community Project Coordinator to manage the upgrades. They will advise whether your planned works meet the requirements and they will manage the process from start to finish.
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Individual Energy Upgrades
For homeowners who want to upgrade their home on a step-by-step basis, giving them greater flexibility to suit their budgets. Comprising SEAI's Better Energy Homes Scheme.
- Must achieve min 20% uplift on current BER
75% of loan must be spent on home energy upgrades. Up to 25% of the amount borrowed can be spent on non-eligible upgrades such as:
- Solar photovoltaic (PV) panels
- Windows and doors and floor insulation
- Other home improvement works
Managed by an Energy Partner
-
One Stop Shop Service
For homeowners who want a complete home energy upgrade solution. Comprising SEAI's National Home Energy Upgrade Scheme.
- Must achieve min 20% uplift on current BER and achieve min B2
75% of loan must be spent on home energy upgrades. Up to 25% of the amount borrowed can be spent on non-eligible upgrades such as:
- Redecoration required after energy upgrade works
- Other home improvement works
Managed by a One Stop Shop
-
Community Grant
For homeowners who want to avail of multiple energy upgrades. Comprising SEAI's Community Energy Grants Scheme.
- Must achieve min 20% uplift on current BER and achieve min B2
75% of loan must be spent on home energy upgrades. Up to 25% of the amount borrowed can be spent on non-eligible upgrades such as:
- Redecoration required after energy upgrade works
- Other home improvement works
Managed by a Community Project Coordinator
Grant routes that qualify
You can apply for the low-cost loans if you use a registered One Stop Shop or a Community Project Coordinator to manage the upgrades. They will advise whether your planned works meet the requirements and they will manage the process from start to finish.
WARNING
To be eligible for a Home Energy Upgrade Loan, you must meet all the following conditions.
- You MUST obtain an eligible SEAI grant for the energy upgrade works you plan to do.
- The energy upgrade works can ONLY be carried out by an SEAI‑registered One Stop Shop or a Community Project Co-ordinator.
- The cost of the energy upgrade works you plan to do, after the value of the SEAI grant is deducted, must be AT LEAST 75% of the total loan amount.
If you do not meet any of these conditions, your loan will not qualify for the Home Energy Upgrade Loan Scheme and may be removed from the Scheme. Removal from the Scheme could result in your finance provider issuing a demand for repayment or moving your loan to a higher interest rate.