AIB is to offer low-cost energy efficiency loans to SMEs and farmers looking to implement energy efficiency measures, cut their carbon emissions, and reduce energy costs.
The bank has become an on-lender for the Strategic Banking Corporation of Ireland’s €150m Energy Efficiency Loan Scheme, which offers amounts from €10,000 to €150,000 over ten years, at lower interest rates.
Eligible investments include a range of energy efficient equipment, as set out on the SEAI’s Triple E Register for Products, including solar panels, heating and cooling systems, LED lighting, EVs charging points, commercial appliances, lighting control systems, and more.
SBCI chief executive June Butler said: “Supporting sustainability and encouraging businesses to invest in energy efficiency measures as they respond to the ongoing increase of energy costs is a priority for us.
“I welcome AIB participating in the SBCI Energy Efficiency Loan Scheme. This is our first dedicated climate action-related product and has been specifically designed to help Irish businesses to improve their sustainability, cut their energy bills and reduce their carbon emissions.”
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AIB retail managing director Jim O’Keeffe added: “Investments in energy efficient assets have provided some challenges for smaller businesses in the past. These loans will help support businesses transition faster to operating sustainably.”
From today, AIB is accepting loan applications from businesses that have been approved for eligibility under EELS by the SBCI.
The other on-lenders for the Energy Efficiency Loan Scheme are Bank of Ireland and Capitalflow.
There are full details on eligibility, approval, T&Cs, and rates on the SBCI website or from AIB here.
