Loans for the improvement of energy efficiency
Characteristics of the loan
To improve energy efficiency
Financial incentive
Green financing
Important facts
Purpose of the loan
The loan is intended for investments in the installation of insulation, installation of new windows, doors, heat pumps, solar panels, replacement of lighting and numerous other energy-efficient solutions for your home.
Return amount
If you finance the installation of only one technology with a loan, you can get up to 15% return, while for investing in two or more technologies, the return amount is up to 20% of the total investment.
Repayment period
You can repay the loan for up to 72 months at a fixed rate or up to 95 months at a variable interest rate.
Application process
- Check the complete list of acceptable technologies on the GEFF Serbia website in the TECHNOLOGY SELECTOR section.
- Choose the energy-efficient solution you want to install in your home and download the Certificate of Acceptance from the Technology Selector
- Choose and contact the supplier from whom you will buy the technology and get the pro-forma invoice.
- Schedule a call, arrange a meeting with a Bank advisor and submit a loan application
- After checking the fulfilment of all conditions, the Bank pays the funds to the supplier's account.
- Install technology and collect invoices from suppliers
- When you have completed the works and collected the invoices, submit an application for financial incentives on the GEFF Serbia website.
- After the GEFF team checks the completeness and correctness of the application, a return will be paid to your bank account.
How to choose technology and apply for financial incentive
See the INSTRUCTIONS on how to choose the appropriate product, as well as how to apply for up to 20% investment return through the Verification System on the GEFF Serbia website.
Calculate savings for investments in green technologies...
Visit the GEFF Serbia website, mark the key features of your home and calculate the savings you can achieve by investing in energy-efficient technologies.
Schedule a call
GEFF is a green economy financing facility of the European Bank for Reconstruction and Development (EBRD) that provides funds for financing energy-efficient technologies in households. Funds in the amount of 135 million euros, which are allocated for the Western Balkans through the GEFFI and GEFFII programs, were provided by the European Union, the Federal Ministry of Finance of the Republic of Austria and the Investment Framework for the Western Balkans.
... in terms of energy efficiency?
For products of energy class A++ or higher, air conditioners, refrigerators, freezers (some of them are also found in the Technology Selector, e.g. air conditioners), a loan may be approved. However, although it is possible to finance their purchase through loan, it is not possible to obtain a return for them. That is why it is recommended that you buy these products in combination with those for which the right to incentive payment can be exercised, the list of which can be found in the Technology Selector.
Yes, from one loan for the improvement of energy efficiency, you can finance the installation of technologies within more than one project, i.e. at several locations.
Yes, you can use the loan to purchase several products from different categories (e.g. for the installation of new windows and a biomass boiler). Combining products from different categories is also desirable, because by investing in at least two you can get the right to a higher amount of incentive, up to 20%, while investing in one provides an incentive of up to 15%.
It is not possible to apply for two loans for the improvement of energy efficiency in the same household, i.e. it is not possible to obtain credit twice for the purchase and installation of the same type of product at the same address.
Yes, you can apply for more than one loan to finance technologies for different purposes in the same location (e.g. you can finance insulation with one loan and window replacement with another).
No, it is not necessary to be the owner/co-owner of the building, nor to be registered at the address where the works are being carried out, and you have the possibility to apply for a loan and to finance an investment in the project of a member of your family as well.
No, it is not possible to finance the thermal insulation of only one apartment with a loan, only the complete renovation of one or more facades on buildings with several apartments.
Yes, they can. In such cases, investments from individual loans for financing different technologies are combined into one project, and together you can exercise the right to a greater financial incentive (20% instead of 15% for one technology). For example, if one member of the household applies for a loan to install insulation, and the other to install a heat pump, the investment will be treated as an investment in two technologies and you will be entitled to a 20% return, even though each loan only finances one technology for which incentive in the amount of 15% is calculated individually.
Additional costs of installation and ancillary activities, such as auxiliary materials that do not belong to energy efficient materials, delivery and installation, are included in the amount on which the return is calculated up to a certain level (in accordance with the incentive calculation matrix).
No. You can exercise your right to a financial incentive from the European Bank for Reconstruction and Development (EBRD) only if you have not previously applied or do not plan to apply for an incentive from another institution or a state subsidy.
... the energy efficiency criteria and the GEFF expert team agrees to include it in the list, do I need to wait for it to be visible on the website in order to be able to print the Certificate of Acceptance?
No. The moment the GEFF expert team confirms that the product of a certain manufacturer is acceptable for financing from a credit line, you can apply for its financing, and instead of the Certificate of Acceptance, you can attach an email from a GEFF engineer. On the other hand, the product will be added to the list in the Technological Selector as soon as possible.
... entitled to a financial incentive?
No. You can exercise your right to a financial incentive only if you are still repaying the GEFF loan for improving energy efficiency that you used to finance the purchase and installation of the selected technology.
... receive my return?
Incentives are paid on average within 45 to 60 days from the date of submission of the complete request for verification, when all acquired technologies must also be installed. During the verification process, there may be a need to perform on-site checks, i.e. at the location where the purchased technology is installed.
The funds used to finance investments within the Green Economy Financing Facility (GEFF) of the European Bank for Reconstruction and Development (EBRD) were provided by the European Union, The Federal Ministry of Finance of the Republic of Austria and the Investment Framework for the Western Balkans.
