Belgians flock to energy credits

In 2022, the four major Belgian banks (BNP Paribas Fortis, Belfius, KBC and ING) saw the number of green or energy loans granted grow dramatically: +123% since 2021 for the first, +102% at Belfius and + 159% at KBC. ING, for its part, has seen a surge of 275% since 2018.

The latter explains the boom in green loans by several factors. “The energy crisis and its impact on energy bills mean that ecological renovation is now recognized as necessary and urgent by the majority of owners”, analyzes the bank. In addition, these installment loans, unlike mortgage loans, make it possible to borrow smaller amounts to finance a project, by proceeding in stages in its renovation without incurring administration fees or notary fees.

“More than one out of two energy loans granted concerns the installation of solar or photovoltaic panels. Then, 12% of these loans concern frames and double glazing, 12% are intended for insulation and 12% for heating and/or or in the boiler”, details for his part the spokesman of BNP Paribas Fortis, Valéry Halloy.