Figure 6.
The image shows a line graph with real interest rate in percent on the horizontal axis from negative 5 to 15 and heat generation cost in pounds per kilowatt hour on the vertical axis from 0 to 0.20. Three series are shown. S 1 is a black dashed line with triangle markers, rising steadily from about 0.055 at negative 5 percent to about 0.17 at 15 percent. S 2 is a red dotted line with square markers, increasing from about 0.055 to about 0.125 over the same range. The A S H P counterfactual is a blue solid line with circular markers, remaining nearly flat, increasing slightly from about 0.07 to about 0.078 as the interest rate increases.Real price of heat (£/kWh) expressed in £2024 against the real interest rate. Calculated by equating NPV to zero