To ask the Secretary of State for Energy and Climate Change what estimate his Department has made of the likely market rate of interest on Green Deal finance that will be offered on Green Deal packages at launch in October 2012.
The Green Deal framework is designed to be driven by the market and therefore the interest rate is for the market to determine. The final Green Deal and energy company obligation (ECO) impact assessment, published on 11 June 2012, models three interest rates—6.5%, 7.5% and 9.5% for the domestic sector. The assumed rate in the impact assessment for the non-domestic sector is 8%.
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