Department for Transport: Chief Scientific Advisers

(asked on )

Question

To ask the Secretary of State for Energy and Climate Change, what recent assessment his Department has made of the competitiveness of green deal finance loans.


Answered by
 Portrait
Lord Barker of Battle
This question was answered on 14th May 2014

Green Deal finance loans are one way that households can fund home energy efficiency improvements. The competitiveness of a Green Deal finance loan compared to other financing options will depend on the circumstances of each household. However, external research has shown that a Green Deal finance loan, available at 6.96% (plus administrative charges) for a period of 10 to 25 years, can often be a competitive option, compared with other forms of unsecured lending.

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