Energy Crisis Drives Belgians to Massively Invest in Green Solutions

It comes as no surprise that the recent energy crisis is encouraging Belgians to take a more active role in the ecological and energy transition. This awareness has significantly increased the demand for green loans, as more people are investing in energy efficiency and sustainable technology.

According to recent data from the Belgian Credit Association (BVK), published in L’Echo and De Tijd, the number of loans for sustainable energy investments has risen by no less than 45% in the past year. Over the past two years, this number has doubled and even tripled since 2018, from 4,400 loans to an impressive 15,400!

The total amount of these green consumer loans has also reached a record high, with €261.5 million in financing for sustainable projects such as the installation of heat pumps, solar panels, electric vehicle charging stations, and insulation works. These investments not only contribute to lower energy costs but also enhance property values and comfort in the home.

"Green Loans Are the Fastest-Growing Category in Belgium"

"Energy savings loans are by far the fastest-growing category within the Belgian credit landscape," said Bart Vervenne, chairman of the BVK. He expects the upward trend from the first quarter to continue, making 2023 a record year for energy-saving loans. In 2022, we already saw a huge increase: the number of energy-efficient loans nearly doubled, from 29,000 in 2021 to 61,000.

In addition to green loans, the demand for other consumer loans also rose in the first quarter of this year, reports the BVK. Traditional renovation loans, which are not specifically focused on energy savings, grew by 4%. Moreover, the number of loans for household appliances, especially for replacing older energy-intensive devices, increased by 14%.

With these positive trends, it’s clear that more and more Belgians are willing to invest in energy efficiency and sustainability, both for their personal benefit and for a greener future.