Avant Money and EIB announce €75m green loans scheme for homeowners

The European Investment Bank (EIB) and financial services company Avant Money are to support €75 million of new green investment by homeowners in the Republic.

The initiative, which takes the form of personal loans and provision of expert advice, is designed to reduce carbon emissions as well as contribute to delivering Ireland’s National Climate Action Plan.

"Personal action can help to tackle climate change, and investing in energy-efficient homes reduces energy bills and helps to reduce carbon emissions. The European Investment Bank is committed to scaling up climate action and is pleased to work with Avant Money to unlock €75 million of energy efficiency investment in homes across Ireland in the years ahead," said EIB vice-president Christian Kettel Thomsen.

"This funding allows us to help Irish homeowners take an active part in the National 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," said Avant Money head of strategic partnerships Sean Sheehan.

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An Post

The new consumer financing will be managed by Avant Money and initially offered to residential homeowners through the An Post Green Hub, which provides personal loans and expert advice to support eligible home energy improvement projects.

Ireland is the first country in Europe to benefit from homeowner financing backed by the Private Finance for Energy Efficiency initiative, a joint scheme supported by the EIB and European Union.

This finance is being partly funded by the EIB’s Private Finance for Energy Efficiency scheme, and Avant Money is the first consumer lender in Europe to bring funding for the scheme to this segment of the market.

In 2020 the EIB group provided €1 billion for new private and public investment in Ireland.