- Modality: loan.
- Repayment period: 10 years.
- Type of repayment: monthly.
- Maximum amount: €1 million.
Energy Efficiency Loan for Homeowners' Associations
The financing you need to save energy in your Homeowners' Association.
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The investments can be financed with a loan.
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Repayment term up to 10 years.
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Check the financing conditions for your HOA project.
Need more info?
Request an appointment at one of our branches to get all the necessary information and receive a personalized proposal for your project.
How does it work?
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At BBVA, we want to finance a greener and fairer future
We can help you finance those investment projects that are intended to save energy and improve energy efficiency (renovation of façades, roofs, installation of solar panels, lighting, boilers, enclosures, etc.).
Check the conditions we offer HOAs, both in terms of the interest rate and the fees. We're a partner entity of the Institute for Energy Diversification and Saving (IDAE).
Features
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Payees
- Designed for Homeowners' Associations.
Nationwide
- Both the final beneficiaries and the investment projects must be located in Spain.
Eligible investment projects
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- Installation of façades, terraces and roofs.
- Install solar photovoltaic panels.
- Individualized meter installations.
- Replace central boilers.
- Replace lights with LEDs.
- Replace doors and windows.
- Install charging stations.
- Improve broadband connections.
- Make the homes more accessible.
- Installation of façades, terraces and roofs.
Example of action 1
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Save energy in your homeowners' association.
The following example shows the money and energy savings thanks to energy efficient renovation:
Refurbishment in a building of 8 properties, which consisted of façade and roof insulation, as well as new windows. The lighting of communal areas was also changed to LED lights. Approximately €100,000 was invested. A grant for 65% of the cost was obtained, since the energy efficiency improvement would be between 45% and 60%.
In addition, 60% of the non-subsidized part is income tax deductible (35% of the initial investment). The savings on energy bills per property, per year were €640. Total savings in year 1 including tax benefits and the payment of the loan was €2,800 per home. For the following 9 years of the loan's duration, the savings were €74. And, from year 10 once the loan is repaid, the savings per home, per year are €640. The energy rating went up from E to C.
Example of action 2
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Save energy in your homeowners' association.
The following example shows the money and energy savings thanks to energy efficient renovation:
Refurbishment in a building of 8 properties, which consisted of façade and roof insulation, as well as new windows. The lighting of communal areas was also changed to LED lights. In this case, solar panels were also installed. Approximately €136,000 was invested. A grant for 80% of the cost was obtained, since the energy efficiency improvement would be over 60%.
In addition, 60% of the non-subsidized part is income tax deductible (20% of the initial investment) and the properties are eligible for a discount on property taxes. The energy bill savings were €640 per property, per year. Total savings in year 1 including tax benefits and the payment of the loan was €1,980 per home. For the following 9 years of the loan's duration, the savings were €158. And, from year 10 once the loan is repaid, the savings per home, per year are €640. The energy rating went up from E to C.
Example of action 3
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Save energy in your homeowners' association.
The following example shows the money and energy savings thanks to energy efficient renovation:
Refurbishment in a building of 8 properties, which consisted of façade and roof insulation, as well as new windows. A new boiler and a heat pump for domestic hot water were also installed. In this case, solar panels were also installed. Approximately €1,000,000 was invested. A grant for 80% of the cost was obtained, since the energy efficiency improvement would be over 60%.
In addition, 60% of the non-subsidized part is income tax deductible (20% of the initial investment) and the properties are eligible for a discount on property taxes for the first 5 years. The energy bill savings were €347 per property, per year. Total savings in year 1 including tax benefits and the payment of the loan was €1,575 per property. In years 2 to 5, total savings were €225 per property. In years 6 to 10, the savings were €10 per home. And, from year 10 once the loan is repaid, the savings per home, per year are €347. The energy rating went up from E to D.
At BBVA, we want to finance a greener and fairer future.
Would you like more information?
Are you interested?
Request more information at your nearest BBVA branch.
Are you looking for another type of business loan?
If this is not the product you were looking for, don't worry. We'll help you choose the one that best suits your needs with our financing adviser.
More information on energy efficiency
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We'll explain what these deductions are, what type of work they apply to, the requirements to get them, as well as the deduction amounts and validity periods.
