Home Energy Upgrade Loan Scheme

FAQs – before you apply

• Who can apply for a loan under the Home Energy Upgrade Loan Scheme?

  Loans are available for applicants who meet the eligibility criteria for the scheme and are investing in energy efficiency and renewable energy upgrades where those works are also being grant-aided by the Sustainable Energy Authority of Ireland (SEAI).

• What can I use the loan for?

  The loan must be used for upgrading the energy efficiency and decarbonisation of your home.

  A comprehensive list of eligible solutions can be found on the SEAI website, but energy efficiency and decarbonisation solutions can include:

  • Attic, wall, and floor insulation
  • Windows and door upgrades
  • Heat pump installation
  • Heat control upgrades
  • Solar photovoltaic (PV) panels (when installed as part of a deep retrofit)
• Can I use the Home Energy Upgrade Loan Scheme to refinance existing debt?

  No, the Home Energy Upgrade Loan Scheme is not available for refinancing existing debt.

• How do I apply for the Home Energy Upgrade Loan Scheme?

  See our step-by-step guide.

• What documents will I need to provide for Home Energy Upgrade Loan Scheme application?

  You will need to provide a copy of your Home Energy Summary Report. Your SEAI Registered Provider will provide you with this.

  If it is necessary to provide additional documents, you will be advised of this during the application process.

  You will not be able to submit an application without the required information.

  If you are in receipt of State Aid, you will need to provide some information relating to this. Where you have received State Aid, you will have received a letter from the State body that provided it. For example, SEAI.

  For a more extensive description of the State Aid measures applicable to the scheme, please refer to the SBCI Regulation webpage.

• What is a Home Energy Summary Report?

  To apply for the Home Energy Upgrade Loan Scheme, the homeowner must provide a copy of the Home Energy Summary Report to the participating finance provider.

  The Home Energy Summary Report is a one-page document provided to the homeowner by a SEAI-registered One Stop Shop, Energy Partner, or Community Project Coordinator following an assessment of the property.

  This document includes information on the property, such as the Meter Point Reference Number (MPRN), and the proposed upgrade, such as the proposed uplift in energy performance and the total proposed costs of the project.

  To get a copy of the Home Energy Summary Report, you must contact a SEAI-registered One Stop Shop, Energy Partner, or Community Project Coordinator and schedule an assessment of your residential property.

• Is there a cost associated with having an energy assessment of my property?

  Yes, the cost may vary depending on the energy assessor and the size of your home.

  Please note: The cost still applies whether the loan is approved or declined.

  The Home Energy Summary Report is not a guarantee of credit approval and does not oblige Bank of Ireland to provide finance. Lending criteria, terms and conditions apply.

• How long will it take to assess my Home Energy Upgrade Loan Scheme application?

  Applicants must provide evidence of the result of the Home Energy Summary Report, along with any other required information requested during the application process. We will review your loan application once we have received all the required information needed to progress.

• How much can I borrow under the Home Energy Upgrade Loan Scheme?

  You can borrow a minimum of €5,000 up to a maximum of €75,000 per property (up to a maximum of 3 properties).

  Lending criteria terms and conditions apply.

• What is the term of the Home Energy Upgrade Loan Scheme?

  You can choose to repay your loan under the Home Energy Upgrade Loan Scheme over 1 to 10 years.

• What is the Home Energy Upgrade Loan Scheme interest rate?

  The interest rate is 2.95% variable (Annual Percentage Rate of Charge (APRC) 3.0%).

  APR stands for Annual Percentage Rate.

  Lending criteria, terms and conditions apply. Over 18s only and not suitable for students. Only available to customers upgrading the energy efficiency of their home. Customers must be in receipt of the SEAI grant and works must be undertaken by an SEAI registered One Stop Shop provider, SEAI Energy Partner or SEAI Community Project Coordinator. A copy of the Home Energy Summary Report will be required. The repayments on a Home Energy Upgrade Loan of €20,000 over 5 years with 60 monthly instalments are €358.87 per month at 2.95% variable (Annual Percentage Rate (APR) 3.0%). The total cost of credit is €1,532.20.

  Variable rates are correct as at 5 February 2025 and are subject to change.
• Can I get more than one loan under the Home Energy Upgrade Loan Scheme?

  Yes. If you have other properties that meet the scheme eligibility criteria, up to a maximum of 3 properties. This is provided that the total of those loans does not exceed the maximum loan amount available to you under the scheme (maximum aggregate loan of €225,000 per borrower).

  Lending criteria terms and conditions apply.

• Can I use the Home Energy Upgrade Loan Scheme to improve the energy efficiency of a residential property abroad?

  No. All properties upgraded must be located in the Republic of Ireland.

• Will I need to provide security for the Home Energy Upgrade Loan Scheme?

  You will not need to provide any security for these loans.

• Are there any penalties for repayment my Home Energy Upgrade Loan Scheme loan early?

  There are no penalties for repaying your loan early.

• Is there a closing date for the Home Energy Upgrade Loan Scheme?

  Loans will be available up to 31 December 2026, or until the scheme has been fully subscribed (whichever is earlier).

• How do I know what State Aid I have received?

  Where you have received State Aid, you will have received a letter from the State body that provided it. For example, SEAI.

  For a more extensive description of the State Aid measures applicable to the scheme, please refer to the SBCI Regulation webpage.

• What State Aid regime is applicable to the Home Energy Upgrade Loan Scheme?

  The scheme will operate under the De Minimis Regulation.

  For a more extensive description of the State Aid measures applicable to the scheme, please refer to the SBCI Regulation webpage.