Bank Good Finance is willing to lower the commission for granting a loan for a “greenhouse” by 0.6%. (USD 600 for each USD 100,000 borrowed) compared to the standard offer. In addition, when calculating creditworthiness, it will take into account the lower costs of maintaining the property, i.e. simply you can borrow more from this institution.
However, a meter of real estate requires a maximum of 100 kWh of energy per year. These are not high requirements. According to data from the portal, in Poland buildings erected after 1998 need on average 90 to 130 kWh of energy per year.
Good Credit bank goes further in its offer
It applies a reduced margin for loans for the purchase or construction of houses and flats that have renewable energy sources, are low-energy (70 kWh per sq m per year) or passive (15 kWh per sq m per year). As a result, wanting to borrow over 50 thousand. USD, with an own contribution of 25%, you have to take into account a margin of:
1.6% when the property has solar collectors, a heat pump or recuperator,
1.5% when the property is low-energy,
1.3% when the property has the status of “passive”.
Is it really worth it?
It must be remembered that the cost of building a passive house is higher than the standard one. Opinions about the additional costs of building a passive house compared to a traditional one vary widely.
They both claim that the construction of a passive house is 40% more expensive and quite different, the authors claim that additional expenditure will be closed in 5-7%. We used the average value for the calculations, i.e. we assumed that construction of a passive house costs one fifth more than when using standard solutions.
So if we assume that the construction of a passive house would consume 480 thousand. USD, this traditional house would cost 400 thousand. USD, i.e. by 80 thousand USD less. What would be the installment of a thirty-year loan in your native currency assuming you own 25% own contribution?
In the case of financing the construction of a traditional house with a loan on average market conditions (1.5 percent of the margin), one must take into account a monthly installment of around 1.9 thousand. USD. When building a passive house using financing at the Good Credit bank, you can count on a lower margin (by 0.2%), but the loan amount would be 20%. higher. As a result, the monthly installment would be 2.2 thousand. USD.
Saving on heating
However, the main benefit of building ‘green’ real estate is lower heating bills. If we assume that an average hundred and fifty meters house requires 120 kWh of thermal energy per year (per meter), then assuming heating it with coal, one must take into account the cost of 2.5 thousand. USD annually. When gas is used, the cost increases to 4.5 thousand. USD annually.
If, however, the house was low-energy and required a supply of 75 kWh per sq m. heat per year, the cost of heating would drop to 1.9 thous. USD and 3.4 thousand USD.
A “passive” house would require six times less heat (15 kWh per sq m per year), and thus theoretically heating it would cost only USD 300 a year if “black gold” or USD 600 for “blue fuel”. Additional costs of building a passive boom would pay off in a dozen or so years (assuming gas heating).