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Rapport: Policies to finance energy efficiency: An applied welfare assessment

by Arancha Sánchez - published on

The Grantham Institute at the London School of Economics is publishing the final report of the three-year project "Financing energy efficiency" funded by the European Investment Bank and involving CIRED and the German Institute for Economic Research (DIW). The report includes a literature review on information problems in energy efficiency decisions by Louis-Gaëtan Giraudet. It also includes an empirical analysis of interest rates offered by French banks for green household investment (home energy retrofit and energy-efficient vehicles) by Louis-Gaëtan Giraudet, Anna Petronevich and Laurent Faucheux. Building on a unique dataset of posted interest rates scraped on credit institutions’ websites, the study shows that unlike vehicles, which carry lower interest rates when they are green, home energy retrofits carry relatively high interest rates. This barrier to energy efficiency investment, identified here for the first time, can be explained by information asymmetries on both retrofit performance and borrowers’ characteristics.

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