The European Investment Bank (EIB) and Avant Money will support €75 million of new green investment by homeowners across Ireland. The funding will support the energy rehabilitation of residential homes across Ireland, 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. 

Home energy improvement projects

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 new initiative will help to cut domestic energy bills and 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," said EIB vice-president, Christian Kettel Thomsen.

"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.

"The EIB is working with private and public partners across Ireland to harness clean energy and reduce emissions and this partnership is enabling homeowners in Ireland to be the first to benefit from targeted support under the visionary Private Finance for Energy Efficiency scheme.”

The funding will support the energy rehabilitation of residential homes across Ireland, 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. 

Sean Sheehan, head of strategic partnerships at Avant Money, said: “Sustainability and supporting the green economy is a key focus for Avant Money and we are incredibly proud to be the first consumer finance company in Europe to bring to the market funding backed by the European Investment Bank’s Private Finance for Energy Efficiency (PF4EE) scheme. 

"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.”

Ireland first country to access new consumer green financing scheme

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

This finance is being partly funded by the European Investment Bank’s Private Finance for Energy Efficiency (PF4EE) scheme and Avant Money is the first consumer lender in Europe to bring PF4EE funding to this segment of the market.

In 2020, the European Investment Bank Group provided €1 billion for new private and public investment in Ireland.