Pa Daly (Kerry, Sinn Fein)
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110. To ask the Minister for Environment, Community and Local Government to report on the low-cost loan retrofitting scheme; to report on the scheme's uptake since its inception; and if he will make a statement on the matter. [49104/25]

Darragh O'Brien (Dublin Fingal East, Fianna Fail)
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The Home Energy Upgrade Loan Scheme, which launched in April 2024, 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. It was developed by my Department in conjunction with the Department of Finance, the Strategic Banking Corporation of Ireland (SBCI), the Sustainable Energy Authority of Ireland (SEAI) and the European Investment Bank (EIB) Group.

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.

The Deputy may wish to note that as only one lender was operating under the scheme for the majority of Quarter 2 2024, the uptake figures for Quarter 2 are not reported separately due to commercial sensitivity.

PTSB was the first lender to join 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).

The cumulative figures for uptake of the scheme both in terms of number and loan value are as follows:

• By end 2024, the number of loans stood at 245 with a value of €11.9 million.
• By end of June 2025, this had increased to 580 loans with a value of €28.5 million.