Through a unique public-private partnership between the Irish government and the European Investment Bank Group, this pioneering loan scheme has become an oasis of innovation in home energy efficiency. This ambitious project, backed by a whopping € 500 million investment program, promises to change the way householders undertake renovations and make sustainable living both attractive and attainable for all. Under this scheme, homes are not just a place to reside but also an ecosystem sustainable in both comfort and economy that produce fewer emissions. Tag along on this journey with us and see what the power of home upgrading really means for our pursuit of an ultra-low cost future.

Main Advantages of the Low-Cost Energy Upgrade Loan Scheme

  1. Affordable Financing: The core principle behind the Low-Cost Energy Upgrade Loan Scheme is that energy conservation should be financially feasible. Loans of from € 5,000 to a maximum limit of € 75,000 are provided for homeowners. The interest rate is much lower than prevailing rates on the market. But this affordability is due to a mechanism few other banks offer a loan guarantee by the European Investment Bank Group in combination with an interest rate subsidy.
  2. Comprehensive Coverage: Unlike ordinary loans, this scheme isn’t limited to financial assistance. In particular, it is targeted toward energy efficiency enhancements that allow homeowners to take on broad-based projects. The scheme encompasses a range of possibilities, whether it’s deep retrofit or individual measures such as external wall insulation and heat pump installations.
  3. Streamlined Access: The scheme, implemented through the Strategic Banking Corporation of Ireland (SBCI), is focused on making it easy and quick to apply for funding. Through interaction with participating retail lenders, homeowners reduce their administrative workload. With this streamlined approach, the emphasis is on the upgrades themselves rather than red tape.
  4. Enhanced Accessibility: Aware of the difficulty of energy poverty, however, the scheme also offers a helping hand to those whose incomes exceed eligibility thresholds but who are unable to undertake self-note retrofits. Low-cost loans become a lifeline, breaking down barriers of inclusivity and solving an essential element of sustainable life. There is more to the Low-Cost Energy Upgrade Loan Scheme than mere funding, everyone deserves a chance to upgrade their homes.

A Deep Dive into Financing Choices

As homeowners embark on the journey to enhance energy efficiency, a myriad of loan options awaits. In this section, we delve into various financing choices, exploring lending institutions and highlighting a bonus option for business owners.

Why Choose the Low-Cost Energy Upgrade Loan Scheme?

But although there are many ways of financing, the Low-Cost Energy Upgrade Loan Scheme has a number of special characteristics. This is more than a loan-it’s an all round solution for energy efficiency retrofits. This focus on affordability, coverage, and ease of access makes the scheme stand out as being particularly suited for homeowners looking to follow a transformation path toward sustainability.


Government and EIB Group-backed Loans

Government and EIB Group-backed low-interest loans are one of the flagship options in the Low-Cost Energy Upgrade Loan Scheme. Designed to help homeowners upgrade energy efficiency, these loans provide a flexible financial tool. The loan sums cover a wide range from 5,000 to 75,000 Euros. You can decide on individual measures all the way up to complete retrofitting projects. 

The main characteristics of these loans are the much lower interest rates than market conditions, offering a less expensive path to home-ownership. In addition, the term of up to 10 years provides increased flexibility in repayment and is perfectly matched to households financial strength. The strongest point of these loans is their foundation–an underlying strong support from the European Investment Bank Group. 

The support provided thus takes the form of a kind of combination between a loan guarantee and an interest rate subsidy funded by the government, allowing energy efficiency improvements not only to be environmentally aware but also economically viable. These loans are administered by Ireland’s Strategic Banking Corporation of Ireland (SBCI), allowing for their delivery without excessive red tape and the stress instead of providing homeowners with the means to make their homes energy efficient.


The Low Cost Energy Upgrade Loan Scheme is targeted at a variety of people, with particular attention being paid to those looking for renovations to their home. Typically, the following groups find significant advantages in opting for this scheme:

  1. Homeowners Undertaking Energy Upgrades: This scheme provides precise support to those dedicated to making their own homes more energy efficient by relying on complete retrofits, partial retrofits or even just installing external wall insulation or heat pumps.
  2. Individuals Above Eligibility Thresholds for Grants: Whereas full subsidies are provided for energy retrofits to those who would otherwise face energy poverty, the Low-Cost Energy Upgrade Loan Scheme serves those above thresholds but still without the means to pay for built-up savings.
  3. Environmentally Conscious Borrowers: The scheme’s green goals are admired by borrowers who care about the carbon footprint left behind and being part of sustainable living.
  4. Homeowners Seeking Low-Interest Financing: Through the combination of a European Investment Bank Group loan guarantee and a government-funded interest rate subsidy, the scheme offers borrowers substantially lower than market loan rates.

Positives of the Low Cost Energy Upgrade Loan Scheme

  • Loan Amounts with Flexibility: Borrowers have the freedom to access loans ranging from €5,000 to €75,000, accommodating a wide range of energy efficiency and renewable energy projects.
  • Rock-Bottom Interest Rates: This scheme offers substantially reduced interest rates compared to prevailing market rates. This benefit stems from the combined backing of the European Investment Bank Group loan guarantee and a government-funded interest rate subsidy.
  • Extended Repayment Terms: With a repayment term stretching up to 10 years, this scheme offers extended timelines, alleviating the immediate financial burden on homeowners.
  • Diverse Upgrade Coverage: The loans can fund a myriad of energy efficiency and renewable energy upgrades, aligning with the objective of creating homes that are easier , more cost-effective, and environmentally friendly.
  • Efficient Administration: Managed by the Strategic Banking Corporation of Ireland (SBCI), the scheme prioritises a simple and rapid application process, minimising administrative hassles for homeowners, ensuring a hassle-free experience.

Considerations of the Low Cost Energy Upgrade Loan Scheme

  1. SEAI Grant Collaboration: For optimal benefits, borrowers are strongly encouraged to pair the Low-Cost Energy Upgrade Loan Scheme with the SEAI home energy improvement grant. This collaborative approach enhances the overall financial advantage.
  2. Certification Standards: To guarantee enhanced energy performance post-upgrade, an additional step involves engaging an SEAI registered Building Energy Rating (BER) assessor. This certification ensures the upgraded home meets specified standards.
  3. Interest Rates and Repayment Terms: Although interest rates are competitive, borrowers should conscientiously review and comprehend the associated repayment terms and obligations linked with the scheme. Understanding these elements is key to a well-informed decision.

How to apply for the Low Cost Energy Upgrade Loan Scheme

Applying for the Low-Cost Energy Upgrade Loan Scheme involves a structured process to ensure a smooth experience for the borrower. Here’s a step-by-step guide:

  1. Assess Your Energy Upgrade Needs
  • Understand the specific energy efficiency improvements you want to undertake in your home.
  • Evaluate the estimated cost of the upgrades, keeping in mind the loan amount range of €5,000 to €75,000.
  1. Select a Registered Contractor
  • Choose an SEAI registered contractor for the planned energy upgrades.
  • Discuss and agree upon the scope of work with the selected contractor.
  1. Apply for SEAI Home Energy Grant:
  • Complete Part 1-2a of the SEAI Declaration of Works document.
  • Apply for an SEAI home energy grant for the planned upgrades.
  1. Apply for the Low-Cost Energy Upgrade Loan:
  • Apply online for the Low-Cost Energy Upgrade Loan through participating lenders.
  • The loan amount is unsecured and ranges from €5,000 to €75,000.
  1. Wait for Approval:
  • The Strategic Banking Corporation of Ireland (SBCI) will review your application and make a decision based on eligibility and financial stability.
  1. Complete Energy Upgrade Works:
  • Upon loan approval, proceed with the energy upgrade works within the specified timeframe.
  1. Certify Improved Energy Performance:
  •  Have an SEAI registered Building Energy Rating (BER) assessor certify the improved energy performance of your home.
  1. Receive SEAI Grant Payment:
  • Submit the new BER certificate and Declaration of Works to receive SEAI payment. Conclusion:

Irish businesses and homeowners have an excellent opportunity to improve energy efficiency, decrease operating costs and contribute towards a greener environment with the SBCI Energy Efficiency Loan Scheme. Investment in an eco-friendlier future is encouraged through this plan which meets SEAI regulations for financial support.