EcoPower Europe - Financing Your Project

FINANCING YOUR RENEWABLE ENERGY PROJECT

Financing your renewable energy project - EcoPower Europe

You have a renewable energy project and now you just need to determine how you are going to pay for it.

If you don’t have the capital ready to hand or you do not want to dip into your savings then there are some options available to you.

Crédit Agricole Charente-Périgord Bank and CA Britline have a number of English speaking financial advisors to help steer you through the credit process and help you complete the applications.

 

For customers in Departments 16, 17, 24, 79, 33, 40 and 47 Please feel free at this stage to contact Catherine Marshall - Financial Advisor Crédit Agricole;:

cp.united@ca-charente-perigord.fr or Tel; 05 45 20 50 21 or follow this link http://www.ca-englishspoken.com/

For customers in all other departments please contact us and if possible we will put you in touch with the relevant advisor for your area. To give you an overview of what finance is available please read on.

There are several products that are relevant to renewable energy improvements. Each have their own set of restrictions and requirements and I hope that the information below gives you some ideas on what might be the right finance option for your circumstance. Always contact your bank to see what current options are available.
Please note that the following is a guide and interpretation only and Ecopower can take no responsibility for any inaccuracies or misinterpretations.

The Eco Prêt à taux zéro
Finance your renewable energy project without paying interest.

The Eco Prêt loan is an interest free loan and is available for the supply and installation of energy efficient equipment that will reduce your energy consumption. It must be on your principal residence and built before 1990.

The Eco Prêt loan is available for a ‘Bouquet de travaux’ or where the energy performance of your property built between 1948 and 1990 is improved significantly    (determined by ‘un bureau d’étude thermique’).

What is a ‘Bouquet de travaux’?

This is a combination of not less than 2 categories of work from the following list;

  • insulation of the roof

  • insulation of the exterior walls

  • insulation of windows and doors

ie. the fitting of shutters or double glazing

  • systems for the energy efficient production of heating or hot water including the associated plumbing

ie. condensing boiler with solar assist, replacement old radiators with new to connect to an energy efficient boiler, ASHP assisted by solar

  • systems for heating using a renewable energy source

ie. for the installation of a Biomass boiler and flue

  • equipment for producing hot water using a renewable energy source

ie. solar hot water system and solar cylinder

All individual systems must be supplied and fitted by the same professional company. DIY installations do not qualify.

The repayments are spread over a maximum of 10 years for a bouquet of two systems and 15 years for 3 systems and the following limits apply;

  • 20,000€ maximum loan for a ‘bouquet’ of 2 categories of work
  • 30,000€ maximum loan for a ‘bouquet’ of 3 categories of work
  • 30,000€ maximum for the work where the energy performance of a building (1948-1990 built) is improved significantly

For an in depth guide to the procedure for the Eco Prêt please see the following link;

ecocitoyens.ademe.fr/financer-mon-projet/renovation/eco-pret-a-taux-zero

You may be able to top up the Eco Prêt loan with one of the following;

The Prêt Économie d’Énergie
Finance your renewable energy projects.

This is a loan specifically for renewable energies or sustainable development. The improvements must be those subject to Crédit d’Impôts reimbursement on a principal residence or rented out maison secondaire provided that it has been available or used for principal habitation for the last 2 years ie not holiday homes.

To qualify the work must open your rights to Crédit d’Impôts and that qualifying cost can be up to 45% of the total project.

The loan is for a maximum of 75000€ over a 20 year maximum period.

Examples of the qualifying work could be the installation of solar hot water systems, insulation improvements, double glazing, Biomass boiler etc.

The Prêt Travaux

A home loan for all of your project based which can be based on the savings plan PEL or CEL.

This loan allows you to finance any project you have for your principal residence (you can be a proprietor or renter). If financed based on your savings from a PEL or CEL savings plan you will be guaranteed a fixed low rate of interest. The amount of your loan is dependent on your individual circumstances and the amount within your savings plan and the time it has been held. You will need to take advice from a local financial advisor for your circumstances. If you have the time to wait and build up your savings  then it is an advantageous way to fund a major project with a fixed low rate of interest.

If you don’t want to wait you can apply for the classic ‘Prêt Travaux’ loan with a fixed rate or adjustable interest rate, you choose depending on what is available at the time of application.

Le Prêt à L'amélioration de L'habit

If you are in receipt of des allocations familles CAF and under certain resources you can apply for this loan covering up to 80% of the cost of the work. See the CAF website for further details.

Les Prêts sur le Livret Développement Durable

Banks should offer loans for energy improvement using the LDD savings plan. There is no requirement for a bouquet of work but the should open rights to Crédit d’Impôts but the loan covers all costs including the installation.

Prime rénovation énergétique de 1 350 euros

If your yearly income falls below levels set - for 2014; 25000€ for a single person and 35000€ for a couple you may be eligible for a tax rebate or ‘prime’ for the installation of renewable energies. You will need to install no less than 2 from a list of 6 categories of work as follows on the link in your over 2 yrs old principal home;
http://ecocitoyens.ademe.fr/financer-mon-projet/renovation/prime-renovation-energetique-de-1350-euros

Other assistance

In some Departments there may be grants available for certain works so do check at your Mairie.

REMEMBER THAT YOU MAY BE ABLE TO REDUCE THE AMOUNT OF FINANCE REQUIRED BY USING YOUR AVAILBLE CREDIT D’IMPOT ALLOCATION

We are always pleased to offer advice on finance options and tax credits wherever possible.