How to Finance Retrofitting
Home Energy Upgrade Loan Scheme
The government has set up a low cost financing scheme to help eligible households fund a home retrofit project.
The scheme is called the Home Energy Upgrade Scheme and is provided by the SBCI (Strategic Banking Corporation of Ireland)
Loan features:
- Lower interest rates compared to existing personal green loans
- Repayment terms from 1 – 10 years
- Unsecured loans from €5,000 - €75,000 per property
- Loans will be available up until 31 December 2026 (unless the scheme is fully allocated before then)
Loans to support the installation of solar PV panels only are not eligible under the scheme. However, solar PV panels are eligible for funding as a part of a deeper retrofit with other upgrades under the National Home Energy Upgrade Scheme (One Stop Shop) or Community Energy Grant Scheme.
There are various financial institutions that offers loans through the Home Energy Upgrade Scheme. They are:
- BOI
- AnPost
- AIB
- PTSB
- Clonmel Credit Union
- Connect Credit Union
- First South Credit Union
- Listowel Credit Union
- Naomh Breandan Credit Union
- North Midlands Credit Union
- Progressive Credit Union
Life Credit Union - Green Loan
Green Loan | Life Credit Union
Life CU have an ‘eco-friendly reduced rate loan’ for individuals looking to install solar panels, do a complete retrofit or buy an electric vehicle.
Loans of up to €100,000 (term up to 10 years) available.