Experts said consumers were rushing to upgrade their homes and move to EV cars
There has been a rise in homeowners taking out green loans from banks and credit unions.
According to the Irish Independent, experts said consumers were rushing to upgrade their homes and move to EV cars to increase energy efficient to counter some of the impacts of rising energy prices.
Green loans taken out from credit unions are averaging more than €20,000.
The banks said the number of green personal loans taken out last year increased by 26pc compared with the previous year.
Banks said what they call green lending has reached a record high.
Green personal loans include finance for an electric vehicle or funding to carry out works to make a home more energy efficient.
In annual terms, green loan volumes jumped by 25.8% to 6,516 loans, and values rose by 27.7% to €152.6m, the banking body said.
An average household in this country pays around €480 a year more for their electricity compared with the EU average.
Electricity prices in Ireland are almost 40pc above EU average, according to Eurostat.
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