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You can do it all on your mobile, or try some features if you are not a customer.
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You can do it all on your mobile, or try some features if you are not a customer.
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      Energy Efficiency Loan for Homeowners' Associations

      The financing you need to save energy in your Homeowners' Association.

      • The investments can be financed with a loan.
      • Repayment term up to 10 years.
      • Check the financing conditions for your HOA project.
      BBVA branch icon
      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. 
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      How does it work?

      • 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

      • Payees 

        • Designed for Homeowners' Associations.

        Nationwide

        • Both the final beneficiaries and the investment projects must be located in Spain.

      Eligible investment projects

        • 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.

      Example of action 1

      • 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.

        See details of the investment

      Example of action 2

      • 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.

        See details of the investment

      Example of action 3

      • 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.

        See details of the investment

      Sustainable economy icon
      At BBVA, we want to finance a greener and fairer future.

      Would you like more information?

      • Modality: loan.
      • Repayment period: 10 years.
      • Type of repayment: monthly.
      • Maximum amount: €1 million.

      The HOA requesting this financing will have to provide:

      Legal documents

      • Documentation certifying the appointment of the chairperson: certificate from the person who administers the HOA or from the person who performs the secretarial tasks and, if these charges do not exist, minutes of the Board.
      • Supporting documentation for the financing agreement: certificate from the person who administers the HOA or from the person who holds the position of secretary and, if these charges do not exist, minutes of the Board. The document has to show that the agreement was approved by the following majority:
        • Agreement adopted in the first call: the majority of all the owners who, in turn, represent the majority of the ownership shares.
        • Agreement adopted in the second call: the majority of the attendees, provided they represent more than half the value of the shares of those present.

      Financial documents

      • Photocopy of the ID card of the person who presides over the HOA/Community Tax ID Number
      • Report from the HOA's Administrator that includes: number of owners; list of owners (without identifying them) with outstanding payments, specifying the individual unpaid amounts, the age of the debt and its status.
      • Minutes authenticating the number, detail and amount of the HOA's outstanding bills.
      • Certificate from the HOA with payments due.
      • The HOA's annual accounts for the last 2 years.
      • 24-month bank statement (not necessary for BBVA customers).
      • Documentation proving the grants received or requested.
      • Supporting documentation for the investment in question:
        • If it involves remodeling: work budget and license
        • If it involves facilities: pro-forma invoice.

      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.
      Go to the adviser

      More information on energy efficiency

      • energy efficiency deductions

        What deductions are available for improving the energy efficiency of a home?

        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.
        Read the full article
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      2. Energy Efficiency Loan for Homeowners' Associations
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