Welcome to the second edition in Capital Credit Union’s series, Thinking of Going Green!
We are looking at all the things you should consider as part of your home renovation to save your pocket and the planet! This week we are focusing on renewable technologies, such as heat pumps and solar panels.
Fossil fuels are not only bad for the environment and a key contributor of global warming, but they are also poor value for money. Luckily, there are now many cheaper and more environmentally friendly alternatives to traditional gas and oil boilers which can save your pocket and the planet!
Heat pumps are electrical devices that convert energy from the air, ground, or water outside your home into heat which can be used inside your home. There are multiple types of heat pumps which include air-to-air/ water/ ground to water.
Systems that extract heat from the air are the simplest to instal as they do not require any underground piping. SEAI offer grants of €600 for air-to-air heat pumps and €3,500 for air-to-water heat pumps. Both ground and water heat pumps can be more complicated to install as ground-based heat pumps require subterranean piping and water-based heat pumps require access to open water, such as lakes, rivers, or streams. However, in this case SEAI offer a €3,500 grant for homeowners that choose this kind of heat pump.
Solar panels are the most well-known form of renewable energy/technology. Even in rainy Ireland solar panels can contribute greatly to your home’s energy requirements. Solar panels can be used to generate electricity or for heating water. SEAI provide grants of up to €2,400 to install your solar panels plus an additional €600 for the battery system.
There are many affordable alternatives for your home’s energy needs and several grants are available. To provide additional support, Capital Credit Union now have a range of Green Loans with rates starting from just 5.9% (6.06% APR).
See what repayments suit you, using our Loan Calculator.