Exciting News for Irish Homeowners: A €75,000 Loan Scheme is Launching Soon!

If you have been thinking about a solar installation for a while, but it’s not been the right time financially, you may be excited to learn that a Low Cost Energy Upgrade Loan Scheme is being introduced. The new scheme enables homeowners to borrow from the Government at a low interest rate to make energy-efficient upgrades to their homes.

Previously homeowners may have needed to fork out for higher interest loans which deducts from the financial saving of a solar PV installation. But thanks to the EIB Group loan guarantee and a Government-funded interest rate subsidy, the interest rates available will be “significantly lower” than others available on the market. The borrowing limits range from €5,000 to €75,000, this means you get to start making those savings sooner and enjoy more of the financial benefits.

Who is eligible to apply?

This loan scheme is open to all homeowners living in Ireland who wish to make their homes more energy-efficient. These loans can be utilized for upgrades related to energy efficiency and renewable energy such as a solar PV system, provided that these upgrades are also being supported by grants from the Sustainable Energy Authority of Ireland (SEAI). Prosolar are proud to be an approved SEAI contractor and we can help you get started with a free quote based on your current usage including your expected grant contribution.

With the SEAI grant and the Low Cost Energy Upgrade Scheme, there has never been a better time to invest in solar for your home and start enjoying the benefits. By making these upgrades, homeowners like you can save money on their energy bills and reduce their carbon footprint, contributing to a more sustainable future for Ireland. Additionally, this loan scheme is designed to be accessible and affordable, with low interest rates and flexible repayment terms to suit each homeowner’s needs.

The Low Cost Energy Upgrade Loan Scheme is expected to come in early 2024 – you can read more about this on the SBCI website.