What Is the Home Energy Upgrade Loan?
The Home Energy Upgrade Loan Scheme is a government-backed programme that offers homeowners low-interest loans to fund energy upgrades. It was developed by the Department of Climate, Energy and the Environment with the Strategic Banking Corporation of Ireland (SBCI), SEAI, and the European Investment Bank.
The government subsidises the interest rate by 2% per annum, which is why rates start from 2.99%, well below standard personal loan rates of 5–10%. The loans are unsecured (no charge on your property) and can be drawn down before work starts, removing the biggest barrier to getting upgrades done.
Compare Lenders
| Lender | Rate (APR) | Amount | Term | Notes |
|---|---|---|---|---|
| PTSB | From 2.99% | €5k–€75k | 1–10 years | First lender to join (April 2024) |
| AIB | From 3.55% | €5k–€75k | 1–10 years | 3-hour decision on applications |
| Bank of Ireland | From 3.00% | €5k–€75k | 1–10 years | Joined June 2024 |
| Avant Money | From 3.50% | €5k–€75k | 1–10 years | Via An Post Money partnership |
| Credit unions | Varies | €5k–€75k | 1–10 years | 7 credit unions currently participating |
Rates are indicative and vary by loan amount and term. Always confirm directly with the lender before applying. Standard lending criteria apply.
Who Can Apply?
- Homeowners (including small non-corporate landlords)
- Property must be residential and in Ireland
- You must have an approved SEAI grant for the upgrade works
- Works must be done through an SEAI-registered One Stop Shop or Community Project Coordinator
- Upgrades must achieve a minimum 20% improvement in your BER
- At least 75% of the loan must go towards energy efficiency works
- Up to 25% can be used for related non-energy works (redecorating, plastering after insulation, etc.). but no fossil fuel boilers
You can apply for up to 3 properties, with a maximum total borrowing of €225,000. Each property can have up to €75,000.
How It Works. Step by Step
- Get a BER assessment. understand your starting point. Book with Homerating.ie →
- Contact an SEAI-registered One Stop Shop. they assess your home, recommend upgrades, and provide a Home Energy Summary Report
- Apply for your SEAI grant. through the One Stop Shop
- Apply for the loan with your chosen lender, bring your Home Energy Summary Report
- Draw down the loan. you can access the funds before work starts
- Work completed. your One Stop Shop manages the full project
- Post-works BER. confirms the 20% improvement target was met
Worked Example
A typical semi-detached home doing a full retrofit (insulation + heat pump + solar):
| Item | Amount |
|---|---|
| Total project cost | €45,000 |
| SEAI One Stop Shop grant (50%) | −€22,500 |
| Your cost (net of grant) | €22,500 |
| Loan at 2.99% over 10 years | €217/month |
| Energy bill savings (heat pump + solar) | ∼€150–€200/month |
| Net monthly cost | €17–€67/month |
In many cases, the energy bill savings nearly cover the loan repayments, meaning your retrofit is effectively self-financing from day one.