Homeowners with poor energy ratings borrow more for sustainability

Homeowners are increasingly willing to invest in energy-saving measures, making the decline in spending on solar panels particularly noteworthy. In 2023, 32% of claims from the sustainability fund at a.s.r. were for solar panels, but last year this percentage halved to just 16.2% (in euros, the share was only 14.3%). This shift is due to the abolition of the net metering scheme and the withdrawal of other (local) subsidies. Instead, customers are now mainly opting for energy-efficient windows and doors, as well as other insulation measures such as roof, floor, and wall insulation.

In 2024, one in four new mortgages at a.s.r. included a sustainability component. Customers are now borrowing more for sustainability as their homes have worse energy ratings. This trend aligns with the expanded borrowing standards that have been in effect since last year. These standards allow homeowners to borrow more for energy-saving measures, depending on their current energy rating. The loan amount ranges from €10,000 for the best ratings to €20,000 for ratings E, F, and G.

‘The changes in the market show that homeowners are adapting to the new reality of subsidies and regulations,’ says Neriman Polat, manager of business development at a.s.r. mortgages. ‘Although solar panels have become less popular, we see that customers are still frequently choosing other energy-saving measures. This is a positive development, as it contributes to the overall sustainability of homes. For a.s.r. customers with a sustainability mortgage, their homes improve by an average of 1.6 energy labels with the declared measures.

The cited figures on solar panels are based on the 4,700+ customers who had a sustainability mortgage from a.s.r. in 2024. The average amount of the sustainability mortgage for new loans was €14,930. On average, €9,880 was claimed for sustainability measures in 2024.