Good news that MPs have confirmed arrangements for the Green Deal, but the interest rate of 7.5% seems high. The argument is that 7.5% is competitive for an unsecured loan. Also loans will be available to almost everyone as they are linked to the home not the credit rating of the occupant.

The high rate makes it vital that installation costs are kept low to ensure that savings on energy bills really do exceed repayments. If 14 million homes are to buy into this, the ‘Golden Rule’ must be seen to work!

via MPs give green light to loan plan for home insulation | Environment | guardian.co.uk.