The European Investment Bank (EIB) and financial services company Avant Money have joined forces to support €75m of new green investment by homeowners in the State.
As a contribution to delivering Ireland’s Climate Action Plan, this funding, which will take the form of personal loans and the provision of expert advice, will help to tackle climate change, by promoting investment in energy-efficient homes.
This ultimately will result in reducing domestic energy bills and help to reduce carbon emissions for consumers and farming families.
The EIB backing and support for Avant Money’s green financing initiatives was highlighted during a recent visit to Dublin by EIB’s president Werner Hoyer and vice-president Christian Kettel Thomsen.
Vice-president Thomsen said: "Personal action can help to tackle climate change and investing in energy-efficient homes reduces energy bills and helps to reduce carbon emissions.
“The EIB is committed to scaling up climate action and is pleased to work with Avant Money to unlock €75m of energy efficiency in homes across Ireland in the years ahead."
The funding will support the energy rehabilitation of residential homes across the country to include energy efficiency measures and small-scale renewable energy installations, all of which are expected to bring positive environmental impacts, as well as extend the useful life of buildings.
Ireland is the first country in Europe to benefit from home-owner financing, backed by the Private Finance for Energy Efficiency initiative, a joint scheme supported by EIB and the European Union.
Head of strategic partnerships for Avant Money Sean Sheehan said: "Sustainability and supporting the green economy is a key focus for Avant Money. This funding allows us to help Irish homeowners to take an active part in the Climate Action Plan by making their homes more energy efficient, reducing emissions, cutting down on energy wastage and doing their part for the green economy at affordable rates."
An Post financial services director John Rice said: “An Post is committed to supporting Ireland’s ambitious national Climate Action Plan by enabling householders to make their homes more energy efficient and more comfortable, with affordable finance at a market-leading rates, expert advice and end-to-end Green Hub project support."
How to avail of funding
The new consumer financing will be managed by Avant Money and initially provided to residential homeowners through the An Post Green Hub, which provides personal loans and expert advice to support eligible home energy improvement projects.
The finance is available to support an extensive range of energy efficiency and renewable energy investments, such as insulation upgrades, replacing windows and doors, installing heat pumps, combi-boilers and solar panels.
Customers can apply for a loan, carry out a free home assessment, and find out more about going green at www.anpost.com/greenhub.