Micheál Carrigy (Longford-Westmeath, Fine Gael)
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124. To ask the Minister for Environment, Community and Local Government to report on the operation of home energy upgrade loan scheme which is now more than a year in operation; and if he will make a statement on the matter. [30262/25]

Darragh O'Brien (Dublin Fingal East, Fianna Fail)
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The Home Energy Upgrade Loan Scheme was launched in April 2024. The scheme is intended to play a crucial role in helping homeowners invest in energy upgrades to make their homes warmer, healthier and more comfortable, with lower emissions and lower bills.

The scheme was developed by my Department, in conjunction with the Department of Finance, the Strategic Banking Corporation of Ireland, the Sustainable Energy Authority of Ireland (SEAI), the European Investment Bank (EIB) and the European Investment Fund.

Under this Government-backed €500 million scheme, which is the first of its kind for both Ireland and the EIB Group, homeowners can borrow from €5,000 to €75,000 at significantly lower interest rates to those currently on the market because of the combination of an EIB Group loan guarantee and a Government-funded interest rate subsidy.

PTSB was the first lender to join the scheme in April 2024, with AIB and Bank of Ireland joining in June. Avant Money (in partnership with An Post Money) launched under the scheme in February 2025 and seven credit unions from the Irish League of Credit Unions began offering loans in April 2025. Rates start from as low as 2.99% (pricing varies depending on the finance provider).

At end Quarter 1 2025, 355 loans were drawn down at a value of €17.2 million.

In line with the Programme for Government’s commitment to “Promote the €500 million Home Energy Upgrade Loan Scheme, offering low interest loans for home energy upgrades, from €5,000 to €75,000”, my Department continues to work closely with the SBCI, the SEAI and the participating finance providers to increase awareness of and demand for the scheme and drive additional uptake in 2025 and beyond.

Noting that with all eleven Home Energy Upgrade Loan Scheme lenders now on board, homeowners across the country will be apply to apply for retrofit loans, allowing more choice and greater access to Government-backed, low-cost retrofit loans.