The Greek “Upgrade My Home” programme is included in the new SMAFIN Expanded series, which examines financial models for energy efficiency in Bulgaria, Croatia, Greece, Romania and Slovenia. Managed by the Hellenic Development Bank and delivered through participating commercial banks, the programme offers individual property owners effectively interest-free loans for energy-efficiency improvements to existing homes.
The model combines public and commercial resources within a single financing structure. Of its total budget of €80 million, 75% is provided through the loan component of the Recovery and Resilience Facility, while the remaining 25% is provided by the participating banks. The interest on the banks’ contribution is fully subsidised by the Greek State through the national component of the Public Investment Programme. Eligible property owners can access loans ranging from €5,000 to €25,000, with repayment periods of three to seven years. The financing can support energy-saving improvements that enhance the performance and quality of existing homes while reducing household energy costs.
As of May 2026, the programme had recorded 4,379 approved applications and 98.52% of its available budget had already been committed. This high level of uptake indicates strong demand for accessible household renovation finance. “Upgrade My Home” provides a practical example of how public resources can be combined with commercial bank funding to reduce borrowing costs and mobilise additional investment in residential energy renovation.
The factsheet was developed within SMAFIN Expanded, a LIFE CET project supporting the development and uptake of smart financing approaches for energy-efficiency investment.
Read the full factsheet: https://inzeb.org/wp-content/uploads/2026/09/2nd-Round_SMAFIN-Expanded_D2.3-MARKET-ANALYSIS_GREECE.pdf
Learn more about SMAFIN Expanded: https://inzeb.org/projects/life22-cet-smafin-expanded/