Green loans all you need to know

Last month, St. Patrick's Credit Union launched their Green Loan product with a specially reduced loan rate of just 4.5% p.a. This welcome and exciting new initiative is aimed specifically at people who are undertaking improvements/ alterations to their homes in order to improve their energy efficiency. People who are considering such a move may be interested in the recently announced Government Home Energy Savings Scheme which is being administered by Sustainable Energy Ireland (SEI), details of which are included below. The combination of the grant scheme and the reduced loan rate makes a compelling deal and makes perfect sense for anyone interested in saving energy, reducing their carbon footprint and creating a sustainable future for generations to come.

Who can avail of the scheme?
It is a National scheme and therefore all homeowners of dwellings built before 2006 may apply. Landlords and owners of multiple properties may also apply, however they must submit a separate application form for each property. If you are a landlord or a management company considering an entire building upgrade, please contact SEI before applying online for the grant.

How much are the grants?
Grants are fixed for each type of measure as indicated in the table beside. Grant approval must be in place before any purchase of materials or commencement of measures undertaken. Grants are paid after the measures are completed and the contractor has been paid by the homeowner. In the instance where the cost of the work (vat inclusive) is less than the fixed grant amount, the actual cost will be reimbursed.

How do you apply?
Applicants must first read the 'Home Energy Saving scheme Application Guide' for an overview of the scheme and to aid them thereafter in filling out the Scheme Application Form. You can apply online by filling out the online application form. Alternatively you can download the application form, complete it and return it to:

Applicants must ensure grant approval is received before proceeding with any product purchase or installation work. Homeowners availing of the BER grant may undertake the Before BER ahead of grant approval being in place.

When can you get the work done?
In accordance with the scheme's Terms and Conditions, Grant Approval must be in place prior to any purchase of materials or commencement of works is undertaken. However, the Before BER can be done ahead of Grant Approval and could prove beneficial for homeowners who are uncertain about their options or what to get done first.

When might you NOT qualify for a Home Energy Saving Scheme grant?
Depending on the scale or type of works being undertaken, the HES grant may not necessarily be appropriate for all homeowners. Homeowners will not qualify for a grant:
• If your first grant application would be for less than €500. So if you are only intending to do attic insulation (€250) or blown cavity wall insulation (€400) on their own then you will not qualify for a grant.
• If you are installing a boiler with a typical efficiency then you will not qualify for a grant.
• If you decide to simply install a boiler but not upgrade the heating controls to the minimum prescribed standard then you will not qualify for a grant.
• If you decide to simply replace your boiler but not upgrade the heating controls to the minimum prescribed standard then you will not qualify for a grant.
• If you wish to get a grant for a BER then you must undertake a BER both before and after undertaking the appropriate grant aided measures.