Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/205148
Authors: 
Schleich, Joachim
Faure, Corinne
Meissner, Thomas
Year of Publication: 
2019
Series/Report no.: 
Working Paper Sustainability and Innovation S08/2019
Abstract: 
Energy efficiency policies often involve low-interest loans for retrofit measures in private buildings; the main target of these loans are meant to be households with otherwise poor access to capital. However, such programs can only be successful if the targeted households also take up these loans. This paper stud-ies the relation between access to capital and debt aversion and the adoption of retrofit measures in European Union countries, employing a demographically representative household survey including about 6,600 homeowners in France, Germany, Italy, Poland, Romania, Spain, Sweden, and the United Kingdom. The findings suggest that debt aversion negatively affects the adoption of retro-fit measures by homeowners. In particular, debt-averse homeowners with poor access to capital are less likely to have adopted retrofit measures than non-debt-averse homeowners with poor access to capital. The findings further pro-vide evidence that low-interest loan programs should be targeted at younger homeowners with lower income and less formal education.
Subjects: 
energy efficiency
debt aversion
soft loans
energy policy
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Document Type: 
Working Paper
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