As the environment and climate change take the hot seat, people across ages, all over the globe, are calling for action in favour of a more sustainable earth, urging everyone including businesses to help combat critical environmental challenges. Switching to green energy is one way of how consumers and businesses alike can reduce their carbon footprint and their negative impact on the planet.
Investing in renewable and efficient energy solutions may be one way of making a difference. Making our lifestyle, homes and businesses environment-friendly may require an initial expense, however, it may also make financial sense subject to you choosing the right financing solution. To assist in the transition to a green economy, Bank of Valletta has launched three low-cost energy loans for personal customers, homeowners/buyers and businesses.
The BOV Personal Energy Loan is targeted at consumers who would like to invest in PV panels, solar water collectors, space heating and cooling, as well as numerous measures including insulation solutions and EV charging stations. This loan provides financing up to a maximum of €50,000, which can also be taken on an unsecured basis
The BOV Home Energy Loan is ideal for customers who are currently seeking to buy a property and are planning a number of energy efficiency and renewable energy investments to make their home a greener and more efficient dwelling.
In this case, homeowners can obtain an attractive financing solution up to €100,000 over the term of the home loan.
The BOV Business Energy Loan is a financing scheme that assists enterprises reduce their energy costs, contributing directly to their bottom line.
This loan is available for SMEs and mid-caps (enterprises employing up to 3,000 employees) and provides financing not only for energy efficiency solutions but also considers other investments, in line with an energy study, such as electric/hybrid car fleets and water efficiency measures, among others.
All three energy loans benefit from a guarantee offered by the EU and the government of Malta under the Energy Efficiency and Renewable Energy Malta Fund (EERE) permitting the bank to provide an attractive interest rate and collateral terms. Over and above, the EERE fund provides a two per cent interest rate subsidy for the first three years of the above-mentioned loans which will contribute towards improving the payback of your green investment.
BOV loan specialists will guide you in choosing the energy loan that is best for you or your business. One can make an appointment by filling this online form https://www.bov.com/Assistants/set-an-appointment; sending an e-mail on info@bov.com or calling on 2131 2020.
The BOV Personal Energy Loan, the BOV Home Energy Loan and the BOV Business Energy Loan are financially supported by the EERE which is co-financed by the republic of Malta and the EU under the European Regional Development Fund (ERDF).
The objective of this fund of funds and its first loss guarantee combined with an interest rate subsidy scheme is to support the access of the final recipients for their investments in energy efficiency and renewable energy measures.
More information is available on https://www.bov.com/content/bov-personal-energy-loan, https://www.bov.com/content/bov-homeenergy-loan and https://www.bov.com/products/bov-business-energy-loan