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| DOI | 10.1016/j.enpol.2020.111861 |
| Differentiated green loans | |
| Giraudet L.-G.; Petronevich A.; Faucheux L. | |
| 发表日期 | 2021 |
| ISSN | 03014215 |
| 卷号 | 149 |
| 英文摘要 | Scaling up home energy retrofits requires that associated loans be priced efficiently. Using a unique dataset of posted loan prices scraped from online simulators made available by French credit institutions, we examine the differentiation of interest rates in relation to project risk. Crucially, our data are immune from sorting bias based on borrower characteristics. We find that greener, arguably less risky, automobile projects carry lower interest rates, but greener home retrofits do not. On the other hand, conventional automobiles carry lower interest rates than do conventional home retrofits, despite arguably similar risk. Our results are robust to a range of robustness checks, including placebo tests. They together suggest that lenders use underlying assets to screen borrower's unobserved willingness to pay, which can cause under-investment in home energy retrofits. We thereby point to a new form of the energy efficiency gap. This has important policy implications in that it can explain low uptake of zero-interest green loan programs. © 2020 Elsevier Ltd |
| 关键词 | Data scrapingEnergy efficiency gapHome energy retrofitOnline pricesPersonal loanScreening |
| 英文关键词 | Economics; Energy efficiency; Investments; Public policy; Energy retrofit; Energy-efficiency gaps; Interest rates; Loan programs; Policy implications; Project risk; Scaling-up; Willingness to pay; Retrofitting; automobile; credit provision; data set; energy efficiency; green economy; housing finance; interest rate; investment; price dynamics; willingness to pay; France |
| 语种 | 英语 |
| 来源期刊 | Energy Policy
 |
| 文献类型 | 期刊论文 |
| 条目标识符 | http://gcip.llas.ac.cn/handle/2XKMVOVA/205109 |
| 作者单位 | Ecole des Ponts ParisTech, CIRED, France; Banque de France, France; CNRS, CIRED, France |
| 推荐引用方式 GB/T 7714 | Giraudet L.-G.,Petronevich A.,Faucheux L.. Differentiated green loans[J],2021,149. |
| APA | Giraudet L.-G.,Petronevich A.,&Faucheux L..(2021).Differentiated green loans.Energy Policy,149. |
| MLA | Giraudet L.-G.,et al."Differentiated green loans".Energy Policy 149(2021). |
| 条目包含的文件 | 条目无相关文件。 | |||||
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