Upgrade with
Low-Cost Financing
KORE Retrofit is pleased to announce that the Home Energy Upgrade Loan Scheme (HEULS) is now available! In conjunction with SEAI, the Government of Ireland, SBCI, EIF and the European Investment Bank, this new scheme will provide low-cost, government-backed loans to homeowners looking to upgrade the energy efficiency of their home through the One Stop Shop Scheme.
Learn more about the Home Energy Upgrade Loan Schemes below.
What is the Home Energy Upgrade Loan Scheme?
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Finance from €5,000 to €75,000
Homeowners and small landlords can borrow between €5,000 and €75,000 per property - unsecured and government backed, to a maximum of 3 residential properties and €225,000.
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Terms from 1 to 10 Years Available
Finance providers offer terms from 1 to 10 years, so you can spread the cost of your project into monthly payments that fit your budget.
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Low Cost - High Savings
Finance providers will set their own interest rates, so you can feel free to shop around and find an offer that works for you! Note that 75% of the loan amount must go towards energy upgrades.
How does finance work?
Financing for One Stop Shop Upgrades is an easy process. Once you’ve completed a home energy assessment and have received a final quote for the works, we’ll provide you with a Home Energy Summary Report which you can take to your chosen finance provider to apply for a low-cost loan. Most finance providers have a digital-first process, allowing you to apply and receive approval in principle right from your home!
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Once you’ve applied for the One Stop Shop with KORE Retrofit, we’ll arrange a Home Energy Assessment to determine which measures you’ll need to reach a minimum BER rating of B2.
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The list of eligible measures includes heat pumps, wall insulation, window and door replacement, heating controls and attic insulation. Solar PV can only be financed if you include it within a whole-home upgrade. Solar PV cannot be financed on its own.
To be eligible for financing, the project must result in a 20% improvement in the energy performance (BER) of the property.
We’ll help ensure the measures meet the requirements of the scheme and your budget. With KORE Retrofit you’re in safe hands!
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After we’ve received the Home Energy Assessment, we’ll be able to provide you with a final quote for the entire project. This includes all the works and project management fees.
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Once you’ve received your final quote and are happy to proceed with the works, we’ll provide you with a Home Energy Summary Report. You’ll take this document directly to your finance provider to apply for the loan.
Frequently Asked Questions
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Once you’ve completed the initial process with KORE Retrofit, you’ll be issued with a Home Energy Summary Report. This important document allows you to apply for government-backed low-cost financing directly with participating finance providers. Outside of issuing the Home Energy Summary Report, we aren’t involved in the financing application.
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Yes. You can finance between €5,000 and €75,000 per property, with a limit of three properties total. The maximum amount you can finance for three properties is €225,000.
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In order to qualify for the financing, the measures installed must result in a 20% improvement in the energy performance (BER) of the property.
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With KORE Retrofit and the One Stop Shop Scheme, you can finance all the measures typically included in a whole-home upgrade. This includes insulation, heat pumps and heating controls, ventilation, external windows and doors, and renewable systems like solar PV. Note that you can only finance solar PV if completing a whole-home upgrade. Solar PV cannot be financed on its own.
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You can use up to 25% of the total loan on works that are not grant aided by SEAI. This limit is strictly enforced.
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You cannot finance works for a non-residential property. You cannot use the funds towards the refinancing of existing debt. Previous works that have received an SEAI grant in the past are also excluded. Unfortunately, we aren’t able to finance any form of fossil fuel boilers.
In addition, please remember that only 25% of the loan can be spent on non SEAI grant aided measures. Finance providers may audit loans to ensure this is enforced.
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The Home Energy Summary Report (HESR) is a document that we provide to the homeowner once the final quotation is complete. This is the document you’ll need to apply for financing directly with the finance provider.
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You will still be eligible for financing if you’ve received a quotation but the woks have not commenced. You will also be eligible if a pre-BER is published and works commenced but not paid for (and no grant claimed).
You are ineligible for financing if the works are completed and paid for, or the works have commenced with grant pre-approval and no pre-BER was completed on the property.
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A list of partners will be published at a later date. All finance providers offering these loans will set their own terms, underwriting requirements and interest rates.
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The requirements are at the sole discretion of each finance provider, so your experience may vary.
SEAI has requested a ‘digital-first’ approach, which means in most cases you should be able to complete the process entirely online.
For more information, please contact your finance provider of choice.