Why invest in green energy?
Green energy is produced from environmentally friendly energy sources such as solar, hydro, wind, geothermal or biomass energy. Investing in green energy is not only a way of doing something for the protection of the environment, but also saves money in the long run.
However, is it worth investing in this new type of energy? In this article, we offer an overview of the benefits of investing in renewable energy.
Why invest in green energy?
To participate in the protection of the environment
It is a well-known fact, fossil fuels are destined to disappear. It is therefore time to react and invest in green energy, not only to save our beautiful planet, but also because our resources are running out. The great challenge of society in the 21st century is therefore to carry out this energy transition in the best possible conditions.
Some countries are already operating entirely through renewable energies, such as Costa Rica, or for the most part, such as Iceland, where 85% of electricity comes from renewable sources. According to the Belgian Renewable Energies Observatory, the share of renewable energies in gross final consumption in Belgium has been steadily increasing since 2005.
It also reached 8% in 2014. It should also be noted that the climate objective dictated by European directives require Belgium to reach 13% share by 2020, with efforts spread across the three regions.
To save money
The transition to renewable energy is a good way to make a gesture for the environment by reducing your CO2 emissions. However, the benefits are not only ethical but also financial: by going green, you reduce your costs and cover your own energy needs; you gain independence and save money in the long run.
In addition, the climate objectives mentioned above have opened up a market that is pushing the Belgian government, the regions and the banks to seize the opportunity represented by renewable energies. On the other hand, the required facilities have also become more affordable. Indeed, the number of suppliers has increased and the competition between them will have the effect of lowering prices more and more. It is now possible to switch to renewable energy without breaking the bank.
How to finance your transition to green energy?
To finance your ecological development, you have two options:
Green loans were created in 2009 following a government measure to revive the economy. These loans concern individuals wishing to invest in green energy in order to reduce their energy consumption. Very popular, there are 215,959 green loans granted between 2009 and 2011. Each of the three regions provides a green loan to which you can claim.
The Brussels Green Loan finances two types of works: insulation and ventilation works, as well as efficient heating. To be able to access it, your property must be located in the Brussels region; you can borrow between € 500 and € 25,000 over a maximum of 10 years at a rate between 0 and 2%. Be careful, the contractor you hire to carry out your work must be registered with the Crossroads Bank for Enterprises (ECB), be subject to VAT and have access to the regulated profession.
In Wallonia, you can claim the Ecopack, a green loan asking for the same membership conditions as the green loan in Brussels. It is a zero-rated credit that allows you to finance all types of development to reduce your energy consumption, which includes work such as renovating your roof. However, the amount you can borrow varies between € 2,500 to € 30,000 for a maximum period that will depend on your income and the borrowed amount.
In Flanders, the corresponding green loan is called Energielening. To apply for this loan you must contact the local Energy House. The maximum loan amount is € 10,000 and the interest rate is usually 2%. However, for some targeted groups with financial difficulties, the loan can be granted at a zero rate.
Ecological renovation loans
To finance your ecological work, you can also apply for an ecological renovation loan offered by some banks. Many financial institutions support green initiatives and want to help their customers reduce their carbon footprint.
The banks concerned also offer very interesting interest rates, which will allow you to make significant energy savings in the long term. You can compare the relevant financial institutions on our website and determine which loan is the most suitable for investing in green energy.